You are here: Home - News -

Lenders to review tied insurances

by:
  • 01/06/2000
  • 0
In light of the Government consultation on compulsory insurances, lenders are reviewing their strate...

In light of the Government consultation on compulsory insurances, lenders are reviewing their strategies.

Melton Mowbray has removed its compulsory insurances across its range while Market Harborough no longer insists on buildings and contents insurance. However, its own ASU cover remains compulsory on some of its products, since at £1.50 per £100 of cover the society deems it to be very competitive.

But 23 lenders in the market still tie-in mortgages with insurance products, 22 of which are mutual building societies.

The Government is currently investigating the abolition of compulsory insurances on mortgages on the grounds that the lender’s insurance may be expensive and that any discount is offset by the commission the lender receives from the insurer.

Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Approval time cut by Global Home Loans call centre

Global Home Loans, the joint venture between the Woolwich and US-based Countrywide Credit Industries...

Close