Mortgage Protection refused

Stressed2020

New Member
Messages
1
hi there,

my partner has been refused mortgage protection by 3 insurance companies. we have our mortgage approval already but this has come as a shock to us. Does anyone know what we can do?

really stressed out!
 

Brendan Burgess

Founder
Messages
38,901
Mortgage protection is legal requirement for most people under 50.

However, if it is refused or if it is prohibitively expensive the lender can waive the requirement.

However, in a country where we don't allow repossessions, it's probably unlikely that the lender will lend without mortgage protection.

All you can do is ask them.

If they refuse, you should see a mortgage broker who might be able to identify a lender who would identify the most likely lender and present your case in the best possible light.

Brendan
 

Monbretia

Frequent Poster
Messages
1,658
Ask your lender will they facilitate a waiver, if not try the other lenders to see which one will, it's not that uncommon but a bit more complicated if say your partner is the main earner by a long shot!
 
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