Mortgage protection sent for review to Chief medical officer

Izzie99

Anyone have experience of this? Was told i would get a decision in 72 hours but once this was up i was told my application was passed onto the Chief medical officer.

Terrified it will be refused! Just not sure how much longer I'll need to wait. It's torture.

Thoie

Probably won't be rejected, but it might cost more if you have pre-existing something, or they don't like your height/weight ratio/smoking/whatever.

Essentially they're working out the "risk" of you dying during the mortgage and them having to shell out to pay it off. The generic quotes you get online (€20-€30 per month) often go up if you're a bit older/heavier/smokier/sicker.

machalla

Its possible to get waivers on this from banks if one party is at least insurable. Generally you go to 2 or 3 insurers and if you are turned down by all you then have the option to ask for a waiver as I understand it.

Typically its just a weighting they are working out though unless theres some very serious issue that they would already be aware of with your application.

Izzie99

Thanks guys. Anyone know how long this should take? I'm almost near my closing date. There is a pre existing condition so I knew there would be issues but i applied so many weeks ago.

Just wondering if they'll drag it out another week or more.

machalla

Izzie99 wrote: »

Thanks guys. Anyone know how long this should take? I'm almost near my closing date. There is a pre existing condition so I knew there would be issues but i applied so many weeks ago.

Just wondering if they'll drag it out another week or more.

It might be worth your while pointing out to them that the closing date is impending then as they may expedite it for you. Otherwise you are probably just in the queue for your file to be looked at.

s7ryf3925pivug

Our mortgage protection took ages to get sorted because of medical stuff. Right before it was given, we were offered an exemption, though we didn't actually need it. That means they give you a mortgage without mortgage protection. It is discretionary, I think they can grant only a limited number of them in any period, but it might be an option. You will need to show about three rejections or unreasonably high quotes for it to be considered.

We also found a place specialising in finding mortgage protection etc for people who were being refused. Think it was called lion or something.

Laya don't do loadings and will reject you out of hand if theee's a question mark. If you need to show rejections then they are a quick option to get one.

fg1406

I was refused for having depression and an ovarian cyst. My broker had never heard of the like before. I went back for cover again this year but it seems i won’t get cover for at least another 2 years. We got a waiver after my husband was deemed insurable.

marykitty47

Izzie99 wrote: »

Anyone have experience of this? Was told i would get a decision in 72 hours but once this was up i was told my application was passed onto the Chief medical officer.

Terrified it will be refused! Just not sure how much longer I'll need to wait. It's torture.

Don't worry we went through the very same 3 months ago and we got there eventually. I no the wait is torture!!