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ScotEq Protect slashes premiums by up to 30%

Scottish Equitable Protect has cut rates on its mortgage protection products by up to 30 per cent in a radical overhaul of its menu.

Taking effect from last week, premiums on level life, critical-illness cover and life insurance with critical-illness cover are down by up to 30 per cent, with decreasing life, CI and life with CI cover linked to a mortgage down by around 20 per cent.

The company says the overhaul is part of making it more competitive, with the age definition on the mortgage protection menu also moving to an “age next quarter birthday” assessment. The change brings it in line with its personal protection menu.

Premier Mortgage Management managing director Mark Mountney says: “This will certainly make them more competitive. Clearly, something like that is very powerful indeed. The biggest question is whether we are going to see an acceleration of problems with administrative processing delays.”

Scottish Equitable Protect head of marketing Laura Shanks says: “Tak-ing out a mortgage is the biggest single driver behind sales of critical-illness insurance and other protection products so we wanted to ensure that our mortgage protection menu was competitively positioned in the market.”


Buy-to-let yields slide in 2003

Yields for landlords began to dip in the last few months of 2003, says Paragon Mortgages. Its buy-to-let index shows that average yields were 7.37 per cent in December, down from 7.49 per cent in November. In December 2002, yields were 8.07 per cent. Property prices for landlords also fell to £123,372 in December from […]

Abbey reduces rates on fixed rate mortgages

Abbey for Intermediaries is reducing the rates on its range of fixed rate mortgages by up to 25 per cent. The new range includes a two year fixed rate at 4.84 per cent, available at up to 75 per cent loan to value, and a five year fixed rate at 5.24 per cent, also at […]

Redress paid only where it is due

The letter from BMG Williams (Money Marketing, January 8) could have left readers with the impression that approaching the Financial Services Compensation Scheme is an easy way for consumers to get compensation. The FSCS is a fund of last resort for customers of authorised firms, not a bottomless pit. We only pay compensation if a […]

The Miles file

What is the single most important determinant of success in investment? Stockpicking? Forget it. Choosing the right fund manager? Close but no cigar. No, the most important factor in any investment decision is asset allocation. Readers of this newspaper will be only too familiar with the business of assessing how much of a portfolio should […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]


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