Hi. I want to buy a house and I am investigating all options and obligations around this. I am aware that life insurance is a compulsory aspect of having a mortgage. Now a friend of mine has told me that you can can tax relief on this insurance. How to cope with this? Can anyone explain me either how that works or tell me where to get the answer? Thanks so much.
What you are after is in fact a Pension Term Assurance. This is a new, non traditional form of life assurance that provides tax relief. At the same time it meets al the requirements that your mortgage lender puts. I think that this PTA is in fact a grossly under used opportunity in the UK. An independent financial advisor will help you on your way.
