Mortgage borrowers have been encouraged by an expert to get life insurance to cover their repayments. Writing on financial advice website Fool.co.uk, Jane Baker has said that such cover can "often go hand-in-hand" with taking out a home loan, as it is important that borrowers ensure they are protected "if the worst happens".The expert went on to explain that reviewing life insurance when moving home is also important. "Many of you may already be in the habit of putting life insurance on your shopping list when you buy your first home," she wrote on the website. "But what about increasing your cover when you move to a larger property later on? A shortfall in your cover could be a costly mistake."
Recent research by Unbiased.co.uk claimed that a fifth of people who visit an independent financial adviser do so for help on mortgage of property buying issues. It was found that, along with retirement planning and investments, mortgages were one of the most popular reasons for people to seek advice.
news source : http://www.earth.co.uk/
No comments:
Post a Comment