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Mortgage protection warning.

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  • 08-06-2005 6:25pm
    #1
    Saruman
    Registered Users Posts: 11,389 ✭✭✭✭


    If anyone is getting a mortgage be sure to sort of the mortgage protection or life cover immediatly.. do NOT even wait for approval!!!

    I have been weeks waiting for my cover and my deal closes on fecking friday and its still not through.

    Oh and do not admit to anything in the medical questions. You can always cancel later on and go with someone else and be truthful if you are worried.

    I waited till i had approval to sort it out. This was still over a month and a half a go. Finally i think i have my policy and its another medical questionaire weeks later?? I fill it out, send it back and then another week or so later they have to send letter to my GP and request info? GP gets it May 26th, Only yester was it filled out and thats because i went down there!!!
    Anyway GP was great sorted it all out.. faxed it over to them to be quick and then today im wating to hear im approved and im told NO the underwriters want MORE. They want a medical exam by my GP AND some other tests that can take weeks... i dont have weeks.. i ask can i get the exam today..
    Anyway half hour later the broker called and said the extended tests have been waived so just the medical exam needed. I just got back from it.. picture of health... BP is perfect.. nothing wrong with me

    All this because when asked was i in hospital in last 5 years i said YES... never again.

    Sorry its a rant but please anyone going for a mortgage get the life assurance well ahead of time.


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    #2
    Spocker
    Moderators Posts: 6,860 ✭✭✭Spocker


    I agree completely. I fell into the same trap myself, left it until the last minute to apply for the life assurance, thinking "sure this is all standard stuff".

    Answered "yes" to one of the questions and they requested a full medical report with another GP (as opposed to my own). Took a couple of weeks to sort it out between going for the medical and all the paperwork that had to be posted around afterwards. My only saving grace was the fact that I went through a broker and the nice lady would ring me up when they had the paperwork in their office and say "I'll email it to you, sign it and fax it back to me and post on the original later"

    I would recommend that you answer all the questions truthfully though, these guys look for any excuse not to pay out :(


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