We don't like Lender's insurance

You might be forgiven for thinking that lenders insisting on the borrower taking the lender's own buildings and contents insurance policy is an extinct practice.

These days few lenders will impose conditional insurances on any of their mortgage products but some still offer more tempting rates if the insurances are taken. For example, Leeds & Holbeck currently offers a very attractive looking 3 year fixed rate of 4.69% but if the lender's insurances are not taken the rate is loaded by 0.24%, making other deals, such as National Counties at 4.80% with no insurance requirement, more competitive.

As with other insurances, it is well worth shopping around to see whether cheaper cover is available elsewhere.