- this is also probably about the cheapest form of long-term (reducing) life assurance that you can buy now, while you're young. Whether or not that's a consideration of course depends on your circumstances...you will still pay out more in mortgage protection life assurance premiums over the same period
moneypitt said:Thanks again ClubMan and DrMoriarty!
Well, unfortunately 253K is 92% of the value of the property, (I am buying FTB!!), LTV < 60% is a very distant dream!! Anyway, I have been to NIB before, but failed to impress them, but they were very good to deal with compared to the lot I am dealing with at the moment!
ClubMan, I agree with your rationale there, that’s why I opted for 30 year mortgage when I was discussing my options with the bank, but with days to closing the deal (bank delayed their part for ever), they have send out a 40 year offer, instead of 30! Well, I wasn’t surprised to be honest! Coming back to your point, the difference in basic mortgage protection insurance is only about 50 euros a year (I am not considering critical illness cover at the moment), keeping all in mind, I am now more inclined towards 40 year mortgage, and to pay it off as soon as I can!
Thanks again both of you!
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