Do I really need mortgage protection insurance?

Am I legally required to buy mortgage protection insurance when I buy a house?

Asked by alexander

2 Answers

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Answered by Sam Pull, IFA in London, GREATER_LONDON
Mortgage protection insurance is not a legal requirement. However if you are taking out a mortgage to buy a property, your lender may ask you to have this insurance. This is to protect them against the possibility of you losing your income and defaulting on your payments. You do not have to take out the mortgage offered by your mortgage lender though, so shop around for the best deal. | 10.29.10 @ 11:26
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$commenter.renderDisplayableName() — {comment} | 09.23.17 @ 14:45
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Answered by footballersdave
I came across a great article on the site. Take a look since it may help you before you contact an expert provider. http://www.simplyfinance.co.uk/articles/mortgage_protection_basics.html | 11.01.10 @ 22:47
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$commenter.renderDisplayableName() — {comment} | 09.23.17 @ 14:45
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Answered by

Sam Pull
Sam Pull, IFA in London, GREATER_LONDON

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