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Do I have to buy Halifax total mortgage protection?

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Written on: 03.01.2010 [13:11]
Topic creator
Posts: 3
I am planning to take out a mortgage with Halifax and when I went to see the advisor I jhave been dealing with last week, he informed me that I should take out the Halifax total mortgage protection plan in case of illness and if I am unable to pay my mortgage payments etc. But the thing is is that I am not sure if I actually need this, ie if there is a requirement for me to buy it. He didn’t really say that I have to, but he kind of implied so.
Written on: 08.01.2010 [23:39]
Posts: 4
No, in a one word answer  It is actually the opposite, they cannot force you to take out this protection plan and a few years back many lenders got in to trouble as you said many people were not sure about the situation and thought it was a legal obligation, and thus were kind of hoaxed in to paying this money which can really add up each year. It ended ok for people as most of them got their money back. But the reason your advisor probably sounded a little bit encouraging is that as an advisor he has the legal obligation to discuss it with you, and some people really do believe that it is better for you to take it out, but it is their personal opinion, it is completely up to you if you want to or not.
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