Will I have to pay a fee to my mortgage lender if I don’t buy my Life Insurance through them?

No! By law they are not allowed to charge a fee.

Sometimes confusion can arise in this area because mortgage lenders are allowed to charge a fee if you don’t take out your Home Insurance through them (the insurance that insures the structure of your home). But they are not allowed to charge a fee if you take out your Life Insurance independently.

Please note : The information contained within the FAQ section has been written by Mortgage Protected Online

Related questions:

How do Life Insurance Brokers get paid?

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