X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Mortgages & Finance

    Payouts v claims

    This may seem a little off subject, but given that every £ of debt borrowing should be covered by life cover, I thought that it might be of interest to let you know of a few statistics from one of our largest life insurers.

    The general perception is that life insurance is a waste of money because they never pay out, or insurers look for a reason not to pay out.  As we are in the industry, we see the true statistics on a fairly regular basis, and they are pretty consistent across lenders.  Take a look at the stats for 2018 below;

    • 97% of Life claims helping 10,046 families
    • 97% of Terminal illness claims helping 1,023 families
    • 93%* of Critical Illness claims helping 3,041 families
    • 96% of Children's Critical Illness claims
      helping 115 families
    • 95%** of Income protection claims helping 474 families

    In 2018, together we helped over 14,000 families through difficult periods in their lives, this equates to £638m in protection claims.

    Granted, Income Protection might not be needed by a majority of professional portfolio landlords, however you should consider whether you are covered sufficiently under the other products.

    If a BTL property is owned by an individual and it is their intention to pass a mortgaged BTL property to their partner or children, would that partner or child qualify for a mortgage in their own name?  Because that is what the existing lender will want to know.  The usual answer that we get to this question is that the estate would sell the property.  But is that going to be the best option?  A forced sale and a CGT tax bill?

    If you would like to consider obtaining mortgage cover for portfolio, please feel free to give me a call.  The best number would be 07751 042485.  An alternative would be 01206 654444.

    1
    0

    __________________________________________________________________

    BTL's, residential mortgages, bridging, life cover and estate planning  

    http://www.hdconsultants.net        

    For Commercial Finance, complex BTL and HMO funding, development finance, international and expat mortgages, and portfolio BTL mortgage services Assured Funding website.

    Telephone: 07751042485      01206 654444

    given that every £ of debt borrowing should be covered by life cover

    Not a given.

    it is their intention to pass a mortgaged BTL property to their partner or children

    No partner or children.

    A forced sale and a CGT tax bill?

    CGT dies with you. Only IHT would apply. Which would be higher in my case Sad

    0
    0