Hi, I'm a first time buyer and have just had my offer accepted.
I have a mortgage in principle and the formal application is now being considered by the mortgage lender. I am sure that life insurance was not a condition of the mortgage being approved (but of course, I'm at work and the mortgage papers are all at home).
Do I have to take out life insurance?
I have no dependants and will be putting down more than a 40% cash deposit. So if I die anyway and the mortgage company have to sell the flat they will easily get their money back. So I don't need life insurance to pay off the mortgage.
Another thing is, I am afraid that if I apply for it I will be refused, as I am a hypochondriac who is always at the doctors having tests for this and that. (Nothing is ever found, although I am mildly asthmatic.)
I really don't want to lose my mortgage and/or first home. Help!
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Do I have to get life insurance for mortgage?
4 replies
stargirl04 · 16/02/2014 20:20
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