Should I tell my mortgage lender about a diagnosis?

Q I have been diagnosed with breast cancer. I have a mortgage on my house and have always kept up to date with repayments.

What I would like to know is, do I have to tell my mortgage company about my diagnosis? Are there likely to be problems if I do?

KT

A No you don't have to tell your mortgage company anything, provided you continue to keep up to date with your repayments.

However, if there's even the slightest chance that your diagnosis will mean that you start to have problems repaying your mortgage - if for instance, you are self-employed and won't be in a position to earn while undergoing treatment, or the sick pay your employer provides is a lot less than your current salary - it would be a good idea to warn your mortgage company sooner rather than later.

By giving the lender advance warning, you take away the risk that you'll be charged for falling into arrears - and your lender should be more willing to find ways of restructuring your mortgage so that your monthly repayments can be made to be more manageable if the need arises.

Now is also the time to study the small print of any mortgage payment protection or critical illness insurance policies that you may have to see if your change in circumstances means that you are in a position to claim.

You might also find it helpful to get hold of the free booklet, Help with the cost of cancer produced by Macmillan Cancer Relief as part of the charity's 'Better Deal' campaign. You can also phone them to order one or with queries on 0800 500 800.