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Deed of Assignment

  • 28-07-2016 4:51pm
    #1
    theoldbreed
    Registered Users, Registered Users 2 Posts: 405 ✭✭


    Hi everyone,
    So we just got life assurance for our mortgage and got a deed of assignment to sign from bank. Is this the norm? Does it entitle them to all proceeds from life assurance or just enough to cover remaining mortgage if any! There's so much jargon I'm confused.

    Thank you


Comments

  • #2
    skippy2
    Registered Users, Registered Users 2 Posts: 393 ✭✭skippy2


    This just covers them for the value of the mortgage, should all be in the small print. You or your benefactors would be entitled to the balance..............Just make sure you have not got your insurance from the bank itself :-).............and hopefully you will never need it


  • #3
    theoldbreed
    Registered Users, Registered Users 2 Posts: 405 ✭✭theoldbreed


    No definitely not with bank, they quoted us 400 a month more than what we are paying, it's nuts!
    Thanks for your help, hopefully we won't need it is right :)


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