Mortgage protection-none for past 9 years-can we start now?

We have two mortgages, got them at the same time with the same lender.
Trouble is I just realised after 9 years, we have never had mortgage protection. What are the implications and can I take out a policy now?

Do you mean mortgage repayment protection by any chance? This is entirely discretionary.

I woud find it extremely unusual that your lender would not require some form of life cover on your PPR.

You are not required to have mortgage protection on an investment property.

The main purpose of mortgage protection life cover is to ensure that a PPR/family home does not have to be sold in the event of the death or one or both parties to cover the mortgage.

The life cover required does not have to be mortgage protection, this is simply the cheapest way of fulfilling the life cover requirement. Do you have any other form of life cover assigned to the lender by any chance?

You can take out a policy now, but only do it if there is a genuine need.

See this thread for more background info on mortgage protection etc.

If this is an investment property query then it's in the wrong forum.

Yes, mortgage repayment protection, that's the one.
I remember we signed up for it but all our DD got cancelled by the bank in a mix up and we never re-set it.

No, we have no other life cover in place. Is is necessary to have it?

Did you read the thread that I linked above?

Kathy said:

Yes, mortgage repayment protection, that's the one.
I remember we signed up for it but all our DD got cancelled by the bank in a mix up and we never re-set it.

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You are probably better off without it unless there is a better than average chance of illness or unemployment affecting your ability to meet your repayments.