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Future Mortgages calls for MIG review

Sub-prime lender Future Mortgages is urging the industry to review the use of mortgage indemnity guarantees.

Sales & marketing director Brian Pitt says many first-time buyers are falling into higher loan to value bands which effectively force them into making large MIG payments.

He wants the industry to review this process, which he says is inappropriate as it does not offer any protection to borrowers.

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