Briefs
MONEYWISE - 1ST SEPTEMBER 2003
Mortgage borrows worried by the interest rate rise last month can now buy some security – at low cost.
City underwriting agency Burgesses has launched Securityfirst, a new mortgage payment protection insurance policy that provides cover of up to £1,500 a month or 65% of gross earnings in the event of unemployment or disability.
And unlike most other policies, Securityfirst is available to new and existing borrowers, in any occupation – including part-time, self-employed and contract workers – with the first three months’ cover free and only a 30 day waiting period for claims.
Premiums for £500 monthly cover start at £22.
