Brokers beat lender on mortgage payment protection insurance costs
MONEY MARKETING - 15TH AUGUST 2002
The average cost of mortgage payment protection insurance from the UKs top 10 lenders is £5.80 per £100 according to a survey from protection broker Burgess. This compares to an average of £4.45 on a like for like basis from the top 10 brokers nationally, the survey reports. Burgesses says the majority of consumers still buy mortgage payment protection insurance cover from their lender and get a product which is overpriced and inferior to that available from independent brokers.
