HSBC offers free unemployment cover for new mortgage customers
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As part of HSBC’s Split Loan Mortgage campaign it is offering free unemployment cover1 for all new mortgage customers, if at least one other LifeChoices2 cover type is taken out.
David Wells, head of insurance at HSBC, says: “The weakness of economic recovery means a number of people will be feeling uncertain about the security of their jobs and whether they will be able to keep up their mortgage repayments in future. To ease these concerns HSBC is offering free unemployment cover to mortgage customers for a limited period.”
HSBC is also offering new mortgage customers 12 months for the price of nine on new home insurance policies taken with new mortgages.
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Readers' comments (2)
Dan McGeehan | 4 May 2010 3:03 pm
Something is not free if you have to take something else out and pay for that. Most lenders cover is more expensive so I can see more customers being sold policies they may not need or want all because they are getting umemployment cover free.
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Mr Dodds | 5 May 2010 11:05 am
I've just taken out a further advance on my HSBC mortgage, and the free unemployment cover provided is for the total amount of borrowing I have with them. I compared the cost of life cover and unemployment cover elsewhere and the HSBC offer beat it hands down! I think it's a great idea considering how unstable the jobs market is!
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