Mortgage

[nickswife]

If a married couple of have a joint mortgage and the husband dies without any protection insurance does the mortgage liability still fall to the wife or is it paid off?

[factor-fiction]

It will be paid off only if they had an appropriate life policy/mortgagae protection policy. If there is no ploicy then the mortgage balance remains

[ubasses]

Yes when you take a joint mortgage liability is 'joint and several' which means you are both jointly and individually responsible. If one party cannot pay the other is responsible for the payments. This is why all mortgage companies should discuss a life policy with you.

[annie0000]

It would be unusual for them to let you take out the mortgage without life cover being in place at the time. However, that doesn't mean that you couldn't have subsequently cancelled it.

[hc4361]

You are not required to take out insurance / assurance with a mortgage.
If you don't have it, the survivor is liable for the whole amount.

[nickswife]

Thank you