Borrowers wasting million on mortgage payment protection insurance
FINANCIAL ADVISER - 27TH FEBRUARY 2003
Mortgage borrowers are wasting millions of pounds a year on overpriced mortgage payment protection insurance, according to broker Burgesses. The provider said 90% of borrowers bought cover from the lenders instead of shopping around. Cheltenham & Gloucester is the most expensive charging £7.70 for every £100 of cover, whereas Nationwide’s rate is the cheapest at only £4.99.
