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Mortgage insurance

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  • 12-11-2012 1:30pm
    #1
    BlackEdelweiss
    Registered Users Posts: 1,535 ✭✭✭


    We are paying €75 a month insurance on our mortgage but I was told this sounds like too much to pay. We owe €123,000 on out mortgage. Should I be paying this much?


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    #2
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,687 Mod ✭✭✭✭Stheno


    Get some quotes from some brokers and compare it to what you are paying now?


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    #3
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    What kind of mortgage insurance? Life, serious illness, buildings, contents, payment protection?

    p.s. At a minimum you'll need cover on the buildings and mortgage protection (decreasing term life assurance).


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    #4
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    Are you referring to both Mortgage Protection and Home Insurance policies and I presume these are paid to the lender that you took out the mortgage with.
    You need to get details from whom you are paying the €75 to as to what exactly is covered and find out how many years is left on your mortgage. You can then get a mortgage protection quote. €75 per month looks very expensive but hard to say without further information such as date of birth, if single or joint/dual cover, if smokers and term outstanding on the mortgage.
    Trish


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