Getting a Fair Deal On a Mortgage

7. Does this mortgage come with compulsory insurance?

  • To get the deal you are offering me, do I have to buy insurance from you?
    • what will it cost me?
  • If the insurance is not compulsory, can I arrange it (or the endowment, ISA or pension) with another company?
    • If so, will I have to pay anything to you?
    • How much will you charge me?

This may include insurance for the building and its contents. If it does compare what the lender is going to charge you with quotes from another insurance company. The cost of compulsory insurance can be more than you would save from a lower than usual interest rate.

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