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Compulsory building and contents insurance
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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.
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Last Updated: May 2007 © Moneyextra.com
Our senior editor Robin Amlôt recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.