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Mortgage protection

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  • 02-03-2019 4:51pm
    #1
    marykitty47
    Registered Users Posts: 115 ✭✭


    Hi ALL

    Just a quick question. The bank wete about to release our funds last week they had issued a letter advising us to contact our solicitor to organise the sognig of the documebts so release the funds. The bank contacted us in relation to the mortgage protection policy on Wednesday as only 1 of us is covered the other is deferred until a follow up appointment for a non life threating illness The documents were provided to the bank three weeks ago so im a little stressed that they are not having issues with the mortgage protection policy they have asked us to contact other insurance companies which we have and again they have all said the same they want to wait until the follow up appointment. My partner had had this illness his whole life and has yearly check up.
    Can we loose the house at this stage? What can we do here? I've asked for a waiver but they said we need to provide 2 more letters confirming thr deferral and it will be reviewed by the underwriters to say I'm stressed is an understatement! We have contracts signed deposits paid solicitor paid furniture ordered and paid....


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    #2
    punisher5112
    Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    Yes they can decline.

    You need to keep at the insurance and try get it and then worry about the deferral.


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    #3
    Wildly Boaring
    Registered Users Posts: 3,631 ✭✭✭Wildly Boaring


    Many house purchases take a long time from contact sign to closing.

    A week here or there won't put the seller off.

    Can partner have appointment in the short term?


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    #4
    marykitty47
    Registered Users Posts: 115 ✭✭marykitty47


    Wildly Boaring wrote: »
    Many house purchases take a long time from contact sign to closing.

    A week here or there won't put the seller off.

    Can partner have appointment in the short term?

    Thanks. No we have contacted the hospital and they can move it from August to June but that's it. I knew this would be stressful but not as stressful as it has been. I really hope we dont lose the house because of this :(


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    #5
    jlm29
    Registered Users Posts: 3,818 ✭✭✭jlm29


    Can you have an appointment privately with a consultant to get it sorted ASAP?


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    #6
    marykitty47
    Registered Users Posts: 115 ✭✭marykitty47


    No as he has been under the same doctor since he was 5 just over 25 years ago.
    It's so frustrating we are first time buyers we weren't aware this would be an issue its not life threatening. The step by step documentation provided to us by the bank states that mortgage protection and house insurance need to be purchased to release the funds basically the second last instruction so that's why we left it so late.


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    #7
    Niallfarrell11
    Registered Users Posts: 10 ✭Niallfarrell11


    marykitty47 wrote: »
    No as he has been under the same doctor since he was 5 just over 25 years ago.
    It's so frustrating we are first time buyers we weren't aware this would be an issue its not life threatening. The step by step documentation provided to us by the bank states that mortgage protection and house insurance need to be purchased to release the funds basically the second last instruction so that's why we left it so late.


    Hi,

    I am in the same boat, how did yous get on with MPI. I am an illness that is not life threatening and about to start looking for insurance?

    Any advice would be great. Thanks


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