Home insurance you don't need
Article Abstract:
Mortgage lenders impose a mortgage indemnity guarantee (MIG) on mortgages where the percentage of the loan in relation to the value of the property is high. The system is unfair to borrowers for a number of reasons. Different mortgage lenders begin requiring MIGs at different loan-to-value (LTV) percentages, rates vary between companies, the system makes it difficult for borrowers with a high LTV to switch mortgage companies, and borrowers probably have to add the MIG to their mortgage. Fairer methods of addressing the issue include the establishment of an open market for MIGs.
Publication Name: Which?
Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Top travel insurance
Article Abstract:
It can prove very expensive to purchase travel insurance from a travel agent or tour operator. It is worth investigating other sources of travel insurance, but it is important to be specific about the type of insurance cover required. All policies should offer cover for stolen, lost or damaged possessions, along with compensation for cancellation or curtailment, at least 1 million pounds sterling of medical expenses cover and at least 1 million pounds sterling of public liability cover.
Publication Name: Which?
Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Tax and your pension. National Insurance
- Abstracts: Private health insurance rebate: who benefits? What price health insurance? Compulsory motor accident insurance
- Abstracts: Is your car covered. How to sell your car. Are you covered by the state from the cradle to the grave? Or will you have to sell your home to fund long-term care in old age?
- Abstracts: The life insurance lottery. PAYE income. National insurance
- Abstracts: Holiday horrors. Holiday insurance