Mortgages Life Insurance
To go directly to our mortgage comparison calculator please click the following link to our mortgages website.
Finance Company of Ireland is one of Ireland's leading independent mortgage advisers.Our mortgage site provides a whole range of information on mortgages and we have developed some of the most advanced mortgage calculators available.
With over 300,000 visitors per annum, our mortgage site is an important resource for anybody contemplating buying a home.
Log on to compare all the latest mortgage rates.
When you take out a mortgage you are entering into a long term financial commitment to repay the loan to the lender over an agreed term.The term is typically 25 years although terms up to 35 years are not uncommon.
Under the Consumer Credit Act you are obliged to take out a life policy if you are under 50 when taking out your mortgage.If you are over 50 it is not a statutory requirement although in practice lenders will insist on you taking out cover and assigning the policy as security for the loan. In any event it makes sense to have the life policy as security as it protects your estate.
This is even more important in times of falling home prices where many homes have values less than the outstanding mortgage balance.