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ScotProv guide to mortgage protection

Protection specialist Scottish Provident is publishing a free consumer guide on mortgage protection and the best way to protect the different types of loans available on the market.

The guide has been produced following a survey commissioned by Scot Prov which found that 27 per cent of borrowers either have no mortgage protection or are unaware if they do have any cover. Of these, more than 10 per cent said they did not know why they did not have any cover.

Scot Prov says that one reason for the low take-up is the wide array of products baffles borrowers as to which kind of protection is best for them.

Its guide sets out to simplify the different types of mortgage cover – including critical illness, disability cover, term assurance and unemployment benefit – in a bid to encourage borrowers to protect their homes.

Head of marketing and product development Nick Kirwan says: “Our booklet provides a useful starting point for on a very complex subject and sets out all the options available.

“Individuals, together with a financial adviser, will then be able to choose the best type of mortgage protection, whether it is for a new mortgage or to protect an existing one.”


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