Home And Contents Policy
Home And Contents Policy
How much does it really worth it? The families are shelling out hundreds of dollars each year for insurance information, but those who use Risk calculators and guides insurers to overestimate the value of your things.
Axa Ireland Unlimited Policy # 500078370 RTE News Report (part 3)
WILL HAVING NO LIFE lNSURANCE PREVENT ME FROM INCREASING MY MORTGAGE SO CAN SELL MY HOME TO MOVE TO ANOTHER?
the reason i have no life insurance is because ive been refused it several times because im a diabetic who smokes,i had insurance when i 1st got a mortgage 10 years ago but had to cancel it as it was tied in with an endowment policy which wasnr going to pay off my mortgage and now i have a repayment 1, ive got about £40000 left to pay on this and 15 years to pay it and my house is worth about 200000 but is too small for my family of 6, we want to move to a bigger house and would have to take out about a 50000 increase to get it, will the bank prevent me from doing this or would they not even know that ive no life insurance, all i have is home + contents insurance. do any of you work in a bank or have any knowledge about this? thanks for any advice you can offer.
Hello Sean. Unless there are some laws in Ireland to control this, which would seem pretty weird, my advice would be to just go ahead and try. As far as where i live is concerned, the ONLY kind of insurance the mortgage folk are interested in, is buildings & contents. In the event of your demise, your mortgage payments would be maintained by your partner so the bank would be not worried about that. In that worst case scenario, your partner would just re-mortgage your 200k house, release some of the profit you have made over the years, get a much smaller mortgage or even loan to cover the 40k left and carry on living there. This option is much better than the RIP OFF specialist insurances whose premiums will kill you, even if the smokes dont !
Top of the morning to you !
p.s. If you live in Northern Ireland, i am certain of my facts, if you live in the South, i can`t be certain. 