Do you need to have or be getting Life Insurance in order to get a mortjage

[JetTail]

I SHOPPEd around a bout a year ago and all said - no. tEHY WON'T INSURE AT LEAST ONE OF MY CONDITIONS

I managed oo get a policy ith METLIFE PAYING £40K IF i DIE

SO DOES THAT RULE ME OUT OF MOTRGGE

SORRU FOR HORENDOUS SPELLING, BUT just out of haspital drgged out ofit.

It seems to be quite common these days that people do not have life insurance attached to their mortgages. I hope this is good news for you.

No you don't need life insurance to get a mortgage, but you have to think of the consequences if you do die, or lose your income while alive and responsible for the mortgage and other living costs.

If you live alone and you die, your house can be sold to repay the mortgage and that's all fine.

If you have a partner, it's all about whether they could afford to pay the mortgage and other living costs if they were left on their own and wanted to remain in the house or could downsize or move somewhere cheaper.

If there are dependent children, then you have to consider whether the bereaved breadwinner could continue to work without the support of a SAHP and vice versa, a SAHP or lower earner is unlikely to be able to afford to maintain the running costs of a family home so needs insurance to cover loss of the main earner.