Hi Guys...
When I took out my mortgage some 6 or so year ago. I took out life and critical illness cover at the advice of my mortgage broker. I have been paying since then approx £52~ every month for this. I am wondering whether I need these?.
I am regularly making overpayments so am on the way to ending my mortgage earlier, if I put this money I am spending on insurance cover and instead make overpayments to my mortgage that would be an additional £600~ off my mortgage every year.
How many people on here with mortgages have taken out life and/or critical illness cover?
If I decide to cancel these two insurance packages will i lose all the money i have paid so far for these?
Thanks in advance
When I took out my mortgage some 6 or so year ago. I took out life and critical illness cover at the advice of my mortgage broker. I have been paying since then approx £52~ every month for this. I am wondering whether I need these?.
I am regularly making overpayments so am on the way to ending my mortgage earlier, if I put this money I am spending on insurance cover and instead make overpayments to my mortgage that would be an additional £600~ off my mortgage every year.
How many people on here with mortgages have taken out life and/or critical illness cover?
If I decide to cancel these two insurance packages will i lose all the money i have paid so far for these?
Thanks in advance