ruggermad 05/03/15
Last reply 3 years ago
Getting a Mortgage (insurance cover)

Hi Guys

Has anybody successfully managed to get a mortgage after they were diagnosed with MS. I need some advice about who/ what companies to speak to about the insurance side of things.

Any information/ experiences welcome.

Also, do I need to tell the bank that I have MS? Can they discriminate against us MSers?

Thank you

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lorag
3 years ago

With my mortgage I was eligible to apply for shared equity through department of housing I pay 60% and they pay 40%. With income insurance and mortgage insurance I was unable to get but through my super I have income insurance with no question asked. I have been told this is with most superannuation. I do believe you can get some sort of insurance best to contact your local MS society they should have contacts. It may be at a costs tho.


johnathanmac
3 years ago

To be honest, from my experience in Scotland, I bought my house just before I got diagnosed. It was a sods-law purchase I got the keys 24 hours before I was diagnosed for a lovely top floor tenement flat, read as no lift and no way to retrofit a lift, and now I require a wheelchair for most of the day. Basically, look to the future when you purchase.

So in terms of getting a mortgage all you really need is a stable income & home & contents insurance. So should not affect you at all really. I notified my mortgage advisor that I had a possibility of MS and he seemed un interested in terms of it affecting the mortgage. I would also recommend getting a life insurance policy that covers the cost of the mortgage as well because you never know what will happen.

In terms of discrimination they can’t do that so you should be safe. I’ll update you when I move to a house or a ground floor flat! XD


ruggermad
3 years ago

Thanks for the advice. It is very much appreciated.

After 6 years of working my nads off and scrimping and saving for a deposit for a house, I finally have enough money to hopefully get on the property ladder. But now MS has came along it has made things alot harder. Grrrrrrrrrrrrrrrrrrrr

Can anybody recommend any companies which specialise in mortgage payment insurance who are sympathetic to people with ongoing health issues? I would rather not tell the bank when I apply for the mortgage, but would rather have a company/ policy ready to go.

Thanks again

P.S. Johnathon – how do you cope with the stairs up to your flat?


johnathanmac
3 years ago

I forgot I wrote you a reply last night and my browser on my phone crashed. Love it when that happens.

I can’t help you on mortgage insurance payments, I don’t have them but my wife does have critical illness cover and some sort of payment if she is off sick for an extended amount of time that matches her monthly income from her job. If you want to check we are both with Aviva for out personal insurance. If you have MS then you won’t get critical illness sadly since you technically already have one. :/

As for the stairs, I have one goodish leg, my left. So I use a crutch to get up and down 3 flights. It takes time, faster to get down than up, but needs must I suppose. The OP, OT, one of those, fitted hand rails down the side that didn’t have any so its easier for me. Also I have the use of a cupboard under the stairs so i can store my wheelchair. I have a chair for in the flat as well.

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