Just wondering how competitive AIB are in relation to their life insurance and buildings insurance for a mortgage. With the current postal dispute my closing date for house sale will slip and I am trying to process original documents through brokers etc. Would save a lot of greif and delays in AIB insurance products are competitive. Anyone have any experience?
Thanks, Stobear
Home insurance and mortgage protection life assurance packages sold by lenders to their mortgage customers are rarely as competitive as alternatives available through shopping around elsewhere. People who buy them are usually effectively paying a premium for the convenience of the "one stop shop" approach to mortgage, mortgage protection life assurance and/or home insurance...
One doesn't purchase a house overnight and I'm sure some forward planning on your part would have avoided the predicament of feeling you are going to miss the closing date.
If you are in a crisis, you can always use them for year one (maybe paying by direct debit?) then rearrange your cover at a more convenient time. I used AIB for home insurance once and got a very competitive quote as a mortgage holder, in contrast life cover was a real rip off. (this is a few years ago, so I'm not up to date on current value for money)
You don't set up a business and not have a contingency in place to deal with such eventualities. I'm glad to say a few intermediaries are actually managing better because of the postal strike.