Insurers ‘do cheaper mortgage protection’
LANCASHIRE EVENING POST (SERIES) - 24TH JULY 2007
Homeowners who buy their mortgage payment protection insurance from high street lenders could be paying more in premiums than necessary, claims independent broker British Insurance. It says that a 30-year old couple looking to protect monthly repayments of £700 a month got a quotation of £7.89 per £100 of cover from Nationwide, while British Insurance can fix the same cover for £2.75.
Over the lifetime of the loan, that means a bill of £16,560 from Nationwide – against £5,775 from British Insurance.
Britishinsurance.com enquires: 0870 240 3946 or www.britishinsurance.com
