Compulsory building and contents insurance. Some home lenders have in recent years enticed customers with competitive fixed rate or low start deals. These deals are often sold on the condition that the lender takes out the home lenders own insurance policy. In that way lenders can profit from the insurance business as a compensation for offering what may have been a cheap mortgage deal.
See Also
Moneyextra.com Insurance Service ©Moneyextra.com Moneyextra.com recommends you take independent financial advice before acting on any article 2009-02-17 00:00:00 © Moneyextra.com