House Offers

[Poor Student]

When i got my mortgage they said i need assurance and insurance, I got neither, I still got the flat.

Both are obligatory to take out a mortgage. The bank wants its money if you croak and it doesn't want the collateral for a mortgage going uninsured.

[dahamsta]

They aren't already in recovery, the UK economy is still shrinking.

My mistake, sorry.

When i got my mortgage they said i need assurance and insurance, I got neither, I still got the flat.

I've only talked directly to AIB and BOI so far, but neither would give us a mortgage without both, either with them or with someone else.

Don't get Payment protection its a racket

I take your point and on smaller borrowings I always tell them to stuff it, but as PS has outlined, I'm not your normal case, and neither is my wife. I'm at more risk than most, although of course the insurer will weight the policy with that in mind and quite possibly make it unfeasible anyway.

adam

[paul_oshea]

Ya, fair point adam, someone like a teacher for example is well covered on any type of sick leave etc. Just be sure that there is no period of unemployment/non payment like 3 months etc, i.e. make sure that the policy you get kicks in straight away ( ive not seen one by the way, but that doesn't mean they dont exist).

If your wife is contracting, and i know you dont need to hear it from me, but she will obviouslly have money mounting up in her business account that even if she were off for 3 months she would still have enough to live off and pay the mortgage for that time, especially if it kicks into the new financial year....

I take the point too on the assurance etc, two friends who are teachers are in the process of buying new builds over here in London, and they were told the same. I'm not lying though I don't have it and I was told you needed it Others who have previouslly bought have told me the same thing...Im not really sure how i got away with it then?!

[dahamsta]

Ya, fair point adam, someone like a teacher for example is well covered on any type of sick leave etc. Just be sure that there is no period of unemployment/non payment like 3 months etc, i.e. make sure that the policy you get kicks in straight away ( ive not seen one by the way, but that doesn't mean they dont exist).

Duly noted, thanks!

adam