Requirements of Mortgage Letter of Offer

[Celtic Cub]

Hi everyone,

I would be grateful if someone could give me a steer on requirements detailed in a letter of offer I received from the bank.

The letter states that I must have:

1. House insurance
2. Mortgage Protection Insurance
3. Life assurance

I would like to know if it is possible to get a combined mortgage protection and life assurance policy.

Can a combined policy be of a value greater value than that of the mortgage?

Thanks for any help.

C.C.

 

[wbbs]

Double check that again, life assurance/mortgage protection are basically the same thing, something to pay off the mortgage if you die, it can be for more than the mortgage if you want. Mortgage repayment protector is a different type of policy but not compulsory for a mortgage.