Do I have to buy life insurance with my mortgage?

Waterlooville, Hampshire

Scott

Posting for 1+ months

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0239431XXXX Reveal

astutemortgages.co.uk/

Scott

Posting for 1+ months

See all ads

Contact Scott

0239431XXXX Reveal

astutemortgages.co.uk/
Posted
53 days ago

Description

Do I have to buy life insurance with my mortgage?

Research published in March by price comparison giant MoneySupermarket found that 59 per cent of homeowners have no life insurance. And, should the worst happen, that could potentially leave millions of people in serious financial trouble without a partner to help them meet repayments.

Could you afford to pay the mortgage if your partner were to die and you only had your income to live off? Would repaying the mortgage from your own salary leave you with no or very little disposable income? Would this be the same for your partner?

Presumably, you and your partner's combined incomes are being used to calculate how much you can borrow. If one of you to pass away, you may find that you aren’t able to remortgage because you only have one salary, leaving you on an expensive mortgage that you cannot move away from.

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Ad ID: 1413713671

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