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FAQ’s

The age is 18 to buy a plan, the maximum age is the day before 60th birthday to buy a plan.

Life insurance policies is always cheaper in annual premiums the younger you are when you buy the policy. Also if your health is good it will also translates to lower insurance costs and buying a policy younger also lowers the chances of having an illness like diabetes or heart disease.

Some conditions are genetic and can run in families, e.g. diabetes or certain cancers. If the insurer deems you a high risk for the condition they may request a medical screening or they may add on exclusions or raise the monthly premium.

It’s very important that you are sure about the family member, the exact name of the condition and when they were diagnosed, otherwise you may have an incorrect outcome to your application.

As with any insurance policy, if you do not disclose all information required, you may not receive a payout.

If you have decided to take out life insurance plan to provide a lump sum or a regular income to your loved ones when you die, there is usually no income or capital gains tax to pay on the proceeds of the policy.

The payout is not subject to any taxes but if you have any Inheritance or if the payout forms part of your estate it may be beneficial to place your policy in trust. Before you do this, you need to speak to an adviser.

Generally, you can re-mortgage your home at any time.

However, you should bear in mind that If you are on a fixed rate deal and your current product is not due to expire in the coming months or years, a re-mortgage before this comes to an end may incur early redemption penalties which will be payable to your existing mortgage lender.

These tend to be a percentage of the total outstanding loan, so can be quite large in some instances. It is always best to time a re-mortgage to fall in the window where you product is expiring (if this is possible). There may be circumstances where waiting until the end of the existing deal may not be an option.

We liaise with both you and the lender and as a whole of market broker we will find the the best current rate available to you on the market.

When you meet with one of our advisers they will determine the following:

  • Are you applying on your own or jointly?
  • How much do you wish to borrow?
  • How much deposit do you have?
  • Your employment and your income.
  • How much outgoings you have.
  • What your credit status is.

    Mortgage lenders each have their own individual criteria and you need to meet their eligibility assessment to confirm that you will be able to repay the mortgage.

    We will be able to advise you on the next steps and which lenders suit your personal requirements.

The length of time you fix your mortgage for depends on your individual circumstances. The general rule of thumb is that the longer the term the higher the interest rate. Additionally, the higher the loan to value the higher the interest rate. Most lenders offer 2 and 5 year fixed rates and some over 10 year deals as well.

Our advisors can review your circumstances and discuss the best option for you. Would you prefer certainty of your mortgage payment over a longer term, such as 5 years, or do you require the lowest rate for a lower monthly mortgage payment, this is generally over 2 years.

However long you decide to fix your mortgage interest for, rest assured, we will contact you up to 6 months before your deal ends, so that you don’t end up on the lenders standard variable rate.

In short, you would be able to pay of your mortgage quickly, by increasing your monthly payments or by paying in a lump sum to  reduce the term of your mortgage.

However, this depends on various factors and it is important that you check what overpayment facility your lender allows.  Most lenders will allow you to pay off up to 10% of your outstanding mortgage balance, each year penalty free.

If you are on the lender’s standard variable rate, then you are usually free to pay as much as you like on top of your monthly mortgage payment. You should always refer back to the original mortgage offer.

Please do contact one of our advisors, who can review your mortgage and current financial circumstances, to assist you in making a decision, suitable for you.