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Can I buy Mortgage Protection abroad for Irish property

bt952000 · 2013-01-30 21:07:28

Hi With the EC , common market and all that, can I buy MPP anywhere in Europe? Searching European and UK websites for same policy details, they are much cheaper. Any legal reason why this is unacceptable to the Irish bank holding the mortgage ? Thanks

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30-01-2013 10:07pm

#1

bt952000

Registered Users Posts: 36 ✭

Join Date: February 2005

Posts: 22

Hi

With the EC , common market and all that, can I buy MPP anywhere in Europe?

Searching European and UK websites for same policy details, they are much cheaper.

Any legal reason why this is unacceptable to the Irish bank holding the mortgage ?

Thanks

0

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#2 30-01-2013 11:05pm
coylemj

Registered Users Posts: 25,435 ✭✭✭✭

Join Date: October 2006

Posts: 24947

MPP is essentially life assurance and I think the company has to be approved to do life business in this country so you probably can't go shopping around.

Same applies to motor insurance, you have to take out the policy with a company approved (by the Irish regulator) to do motor business here so you can't produce a cert from a Latvian company when stopped by the Gardai.

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#3 31-01-2013 12:27pm
bt952000

Registered Users Posts: 36 ✭

Join Date: February 2005

Posts: 22

Thanks for the reply.

Sounds like I'm stuck with the high prices !

Cheers

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