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CML blasts bid to scrap compulsory insurance

The Council of Mortgage Lenders believes Trade and Industry secretary Stephen Byers&#39 announcement to scrap compulsory insurance on mortgages comes at an “odd” time.


The CML is also urging the FSA to confirm it will be regulating mortgages as soon as possible.


CML director general Michael Coogan says: “The legislation should not be taken as a signal that insurance is unimportant. A mortgage is a big commitment and people must make sure they are fully protected.”

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