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Britishinsurance.com launches low-cost loan protection

Britishinsurance.com has launched low-cost loan protection insurance that cost under a fifth of the average price charged by the top 10 lenders.

As well as the low cost benefits include tax-free benefits being payable from day one rather than being subject to the usual 60-day excess period.

It is a monthly contract that can be cancelled by the consumer at any time, whereas loan protection often requires a single premium which is front loaded and non-cancellable.

Also, it is not necessary for customers to have full cover and can opt for unemployment and incapacity cover in isolation at reduced cost.

Simon Burgess, managing director of britishinsurance, says: Protecting a 7,500 loan over five years with britishinsurance rather than via the most expensive lender creates a saving of well over 3,000. Even in comparison to the cheapest lender it creates a saving of over 1,000. The banks have been profiteering at the expense of consumers for far too long.

Dont forget also that we are not just concerned with a price issue. Being able to purchase the incapacity and unemployment components separately greatly helps the self-employed, for whom unemployment cover on payment protection insurance is highly restrictive. It is also invaluable for those with pre-existing medical conditions which are excluded from incapacity cover industry-wide.

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Dear Delia

I am advising a married couple, Dave and Linda, who are buy-to-Iet investors with three properties. They now want to expand their portfolio. They have worked on their finances, paying attention to the value of their existing investments and have established they are in a position to access equity from their existing properties. They now want to know what options are available to them to allow them to expand their portfolio.

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