there is provision in the consumer credit act that obliges a bank to have a mortgage protection policy in place for people who can't get it
Yep, section 126 of the consumer credit act.What? There is a provision whereby the lenders can waive the requirement to have mortgage protection in place. But I haven't heard that there is an obligation on the lender to have mortgage protection.
Brendan
Heart felt appreciation goes to you all for your kind advice. I managed to get a second refusal latter from another insurance company and sent it to the bank. The bank made a waiving request to the creditors which was successful, so it mean they can approve the mortgage. We are ecstatic. New year resolution is to hit the gym.
Thanks again gies
Hi everyone
I have been refused mortgage protection life cover by 2 insurance companies due to my body mass index (bmi). I have no other underlying health problems. My husband was approved though. How can we go around this massive obstacle as we were about to draw the mortgage?? Shattered!!
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