Will a diagnosis of Rumathroid Arthritus ruin chances of a mortgage ?

worded

Friend has been called back for a second blood test (double check) after a first general blood test showed possible signs of it . This second test will be to focus and look for markers of it ....

He can delay the testing to after the mortgage application if it will ruin chances of getting approved

Any advice appreciated

Thanks

KingCong

I wouldn't have thought it'd have any effect, aside from possibly a loading on the mortgage protection insurance policy. Unless his work requires manual labour that the arthritis may prevent him from continuing that in line of work?

seamus

Unlikely tbh, it'll just make his mortgage protection insurance more expensive.

On a more practical level his health is more important than a mortgage, and early intervention is best for any illness. Delaying a potential diagnosis in order to secure a mortgage might be a bit short-sighted.

Henry Ford III

seamus wrote: »

Unlikely tbh, it'll just make his mortgage protection insurance more expensive.

On a more practical level his health is more important than a mortgage, and early intervention is best for any illness. Delaying a potential diagnosis in order to secure a mortgage might be a bit short-sighted.

I'm not an underwriter but I'd doubt arthritis would give rise to a rating for life assurance.

seamus

Depends on his age and whether he's experiencing any symptoms.

https://lion.ie/life-insurance-medical-issues/life-insurance-with-rheumatoid-arthritis/

While not life-limiting, someone with rheumatoid arthritis is more likely to be officially classified as disabled and/or require early retirement.

This affects their ability to repay a mortgage and will therefore incur a loading on their premium. Since the purpose of mortgage protection is to cover your mortgage in the event that you can't, then anything which makes you a higher risk, means a loading on your premium.

As the article above points out, if the individual has no actual signs of the illness, then there's a good chance they'll incur no loading. But since it's been discovered in the medical, then the insurance company want to know the severity of it.

Henry Ford III

seamus wrote: »

Depends on his age and whether he's experiencing any symptoms.

https://lion.ie/life-insurance-medical-issues/life-insurance-with-rheumatoid-arthritis/

While not life-limiting, someone with rheumatoid arthritis is more likely to be officially classified as disabled and/or require early retirement.

This affects their ability to repay a mortgage and will therefore incur a loading on their premium. Since the purpose of mortgage protection is to cover your mortgage in the event that you can't, then anything which makes you a higher risk, means a loading on your premium.

As the article above points out, if the individual has no actual signs of the illness, then there's a good chance they'll incur no loading. But since it's been discovered in the medical, then the insurance company want to know the severity of it.

I've been in life and pensions for quite a few years. My view is that if the condition presents no increased mortality risk no loading can be justified.

Perhaps arthritis is an indicator of that?

Trish56

When completing the proposal form for mortgage protection you are asked if you are awaiting any tests etc. if answer is YES then Life Company won't process the proposal until the tests are carried out and results received and without Mortgage Protection you can't drawdown the mortgage.

Mortgage Protection pays out on 1st death and does not provide cover if you cannot work due to disability.