Your options when it comes to buying mortgage protection cover
- 16TH AUGUST 2007
Although the majority of people don’t realise it, they do have options when it comes to taking our mortgage protection cover. A lot of the policies that are purchased are sold alongside the mortgage at the time the loan is taken out from the high street bank or lender. However, just because the high street lender got you a good deal on your mortgage it doesn’t necessarily mean that the same applies to the mortgage protection cover. In fact, this is the dearest way to buy the protection.
The high street lenders do, as Simon Burgess, Managing Director of independent payment protection insurance provider British Insurance is forever warning people, charge well over the odds for mortgage protection cover.
He says: “And when it comes to selling the product, their sales techniques have been found to be poor, as the recent finings of well-known names in the finance sector by the Financial Services Authority highlighted. This, unfortunately for those who bought from the high street lender, has led to many consumers finding they cannot make a successful claim on their policy due to the exclusions not being highlighted when they took the policy out.
“It is an absolute disgrace. Your best option when it comes to buying mortgage protection cover is to shop around so that you can get quality cover at a price that isn’t inflated”.
Shopping around with a standalone provider is certainly the way to find the right mortgage payment protection insurance cover – an organisation who knows what they selling and can give the advice you need to make the right decision. British Insurance has that experience. Simon and the team from British Insurance pride themselves on offering award winning products, backed by dedication and high ethical standards.
When it comes to taking out mortgage protection cover then it is essential to know your options and also what the policy entails, British Insurance give you details in plain English along with free advice and a quality product.
