hi,
i took over my dads company after he died, change of director etc to get it into my name. my mum is the other director. now, my dad secured a mortgage against their house to purchace the company (only a small amount and they had full equaty in the house, i.e no mortgage) . i have not let the lender know about my dads death and have not changed the mortgage into my name as its only got 10 payments left, and i have only just relized that i was paying it :eek:. should i tell the lender and will it cost anything also would the mortgage have stopped as a result of dads death etc. dont want to upset the apple cart if you know what i mean . would i be right to assume there might some morgage payment protection in place that would cover this ?
i took over my dads company after he died, change of director etc to get it into my name. my mum is the other director. now, my dad secured a mortgage against their house to purchace the company (only a small amount and they had full equaty in the house, i.e no mortgage) . i have not let the lender know about my dads death and have not changed the mortgage into my name as its only got 10 payments left, and i have only just relized that i was paying it :eek:. should i tell the lender and will it cost anything also would the mortgage have stopped as a result of dads death etc. dont want to upset the apple cart if you know what i mean . would i be right to assume there might some morgage payment protection in place that would cover this ?