- Home Mortgage Loans
- More people are paying off their mortgages early. How do they do it? This article explains some ways.
- Mortgages. Watch out for add-on charges.
- Mortgage lenders use headline interest rates to attract borrowers. But behind the scenes they're introducing a whole raft of add on charges. This article explains.
- Mortgages. Watch out for add-on charges.
- Mortgage lenders use headline interest rates to attract borrowers. But behind the scenes they're introducing a whole raft of add on charges. This article explains.
- Repaying Your Mortgage With An Endowment Policy.
- An article looking at the two different ways to repay your mortgage. With the current ‘credit crunch' many are opting for the interest only option but will your savings grow enough to pay off the capital?
Cover for your Debt Repayments
The cost of income cover or payment cover can be expensive depending on your needs, so plan carefully and make sure the insurance is not counter productive.
Insuring yourself against loss of earnings is not only important for loan repayments but also for people with other dependancies on a stable income stream.
Loan payment protection schemes have received more than their fair share of newspaper column inches recently. The schemes, which pay out cash to cover loan and mortgage repayements in the event of loss of earnings are often sold by the companies providing the loans and mortgages at the time the customer signs up for their borrowing. The thing to watch out for are the poor value deals that are sold to unsuspecting loan applicants, sometimes without them realising they have bought the insurance or knew they had the option to decline it.
For someone who really needs this type of insurance, the main problem is finding a good quality policy. For others who may or may not need the cover, the issue is getting good advice from someone with their best interests at heart. In a sales situation there are often conflicting interests and it is this problem the FSA is trying to address with their "Treating Customers Fairly" initiative. (best value loan)
The result of the work by the FSA will hopefully be a thriving payment protection industry that provides good quality, cost-effective insurance options to those that need them and not to those who dont. (secured loans)
(cheaper loan)Alliance Internet Ltd is an Appointed Representative of Financial Connexions Ltd. Financial Connexions Ltd is authorised and regulated by the Financial Services Authority.
