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Redunancy Protection (for Mortgage)

ktc · 2006-08-31 18:50:49

Hi I'm a new homeowner and was wondering if theres such thing as a policy which can protect you in the event you are made redundant? Just to safeguard against the worst scenario?? Thanks.

31-08-2006 6:50pm

#1

ktc

Registered Users, Registered Users 2 Posts: 43 ✭

Join Date: August 2006

Posts: 20

Hi I'm a new homeowner and was wondering if theres such thing as a policy which can protect you in the event you are made redundant? Just to safeguard against the worst scenario?? Thanks.

0

Comments

#2 01-09-2006 11:41am

penexpers

Closed Accounts Posts: 4,038 ✭✭✭

Join Date: September 2004

Posts: 3835

I think you are obliged to take out some form of mortgage protection when you get a mortgage which covers you in case of redundancy. IIRC, it usually covers your repayments for 6 months, but this may vary.

0
#3 07-09-2006 10:26pm

dobsdave

Closed Accounts Posts: 1,814 ✭✭✭

Join Date: March 2006

Posts: 1667

You are not obliged, its optional, but usually doesn't cover voluntary redundancy.

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