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Free unemployment insurance for new mortgage customers at HSBC

HSBC is offering free unemploy-ment cover for new mortgage customers if life insurance is also taken out.

The move follows the launch of HSBC’s split mortgage that allows borrowers to fix a proportion of their loan, with the remainder on a lifetime tracker rate.

All borrowers are being offered unemployment cover if they take out LifeChoices2 cover.

The lender is also offering new borrowers 12 months for the price of nine on new home insurance policies taken out with mortgages.

Last week also saw British Insurance launch a mortgage payment protection insurance policy with unemployment-only options.

It has options for unemployment, accident or sickness or all three, and covers up to £2,000 worth of mortgage payments including related expenses such as endowment savings plans.


Lenders must make up their minds on the broker market

Countrywide boss Grenville Turner’s comments about the intermediary sector are strange considering his position, but I think I understand what he’s trying to say. There should be a market for direct and introduced business but lenders must drop dual pricing. My recent experience indicates that introduced cases do not get good service compared with direct […]

UK unemployment reaches 2.51m

The number of unemployed in the UK rose by 53,000 to 2.51 million during the last three months to March, figures from the Office of National Statistics show – the highest level since December 1994.

Brokers predict more business in Q2

Mortgage brokers expect to conduct 6.7% more business in Q2 2010 than they did in Q1 – a further sign of returning confidence in the sector, says Paragon Mortgages. According to Paragon Mortgages’ Financial Adviser Confidence Tracker, a panel-based survey of advisers, this is the fifth consecutive quarter that brokers have predicted higher business levels. […]


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