"Nearly four-fifths of homeowners had no insurance to protect their income – and pay their mortgage – if they lost their job" according to totally unbiased research by major insurance company Axa.
Did they, er, do any research into how many more homeowners would be struggling if they had to pay for a hugely expensive (and fairly useless) payment protection insurance in addition to their mortgage?
Wednesday, 28 May 2008
"1.8m cannot pay mortgages"
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1 comments:
Totally agree. They would be better off saving the 'premium' for just such a rainy day, given the general crappiness of the policy.
(says the man who has just realised that he has been paying repayment cover on his credit card for 3 years, despite the fact that a) it doesn't cover him, as he's a company director of his own company, and b) he pays his entire balance off by direct debit each month anyway. Doh!)
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