When arranging a mortgage it is essential that you consider what life cover you need to arrange in support of the lending. If you have dependents there is a definite requirement for adequate life assurance to make sure that if you were to pass away the mortgage is cleared in full and that your dependents continue to live in your home.
Often we also find that partners can be vulnerable if one salary is removed from a household and again to avoid the need to sell the property during a difficult period of loss we would suggest that full cover is arranged and maintained.
The banks do not insist upon life assurance but they do strongly recommend it. If you would like to discuss what type of life assurance would best suit your mortgage circumstances please contact Paul on 01624 612611 or email us on [email protected] or please complete our online life assurance form.