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The New “Right To Be Forgotten” Law: What It Means For Mortgage Protection In Ireland
There’s been a significant development in mortgage protection in Ireland that could make it much easier for cancer survivors to secure a mortgage.
The Government has announced plans to introduce a “Right to Be Forgotten”, a legal change that will improve access to mortgage protection insurance, a key requirement when taking out a home loan.
For many people, this is more than just a policy update; it’s a pathway to home ownership.
Why this matters
Until now, cancer survivors have often faced major challenges when applying for mortgage protection, such as:
- Applications delayed or declined
- Higher insurance premiums
- Extensive medical underwriting
Research has shown that many cancer survivors struggled to access financial products, including insurance needed for mortgages.
Even after years in remission, a past diagnosis could still affect outcomes.
What is the “Right to Be Forgotten”?
The proposed legislation will introduce a legal right to disregard certain cancer histories when applying for mortgage protection insurance.
Simply put, after a set period, your past cancer diagnosis should no longer impact your application.
What’s changing?
The latest update includes several important improvements:
- Waiting period reduced from 7 years to 5 years after treatment
- Mortgage protection threshold increased to €650,000
- A legal framework to ensure fair treatment by insurers
These changes are expected to be brought through legislation in the coming months.
What this means for homebuyers
This is particularly important because mortgage protection insurance is mandatory in most cases when taking out a mortgage in Ireland.
Without it, many buyers simply cannot proceed. This new approach aims to ensure that:
- A past illness does not define your financial future
- More people can qualify for standard insurance terms
- Access to home ownership becomes more equal
As Tánaiste Simon Harris stated, a cancer diagnosis should not prevent someone from owning a home.
Important things to keep in mind
While this is very positive news, there are still a few things to be aware of:
- The rules apply specifically to mortgage protection insurance
- You will still need to disclose your medical history
- The legislation is not yet fully enacted
That means navigating the process still requires the right advice.
How we help
At Symmetry Financial, we regularly work with clients who:
- Have had previous medical conditions
- Are unsure if they qualify for cover
- Have been declined in the past
With the right guidance, options often exist, and with these new changes, opportunities are improving even further.
Final thoughts
This legislation marks a meaningful shift towards fairness in the insurance market.
For many cancer survivors, it removes a barrier that has existed for years and brings the goal of owning a home back within reach.
If you’ve been affected, now is the time to revisit your options.
If you’re unsure where you stand with mortgage protection, get in touch with our expert mortgage advisors; we’re happy to guide you through it!
If you’d like a free, no-obligation consultation for your mortgage, pension or financial needs, get in touch here, call us on 01 6831673 or email us directly on info@symmetryfinancial.ie.
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