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Southern Pacific cuts mortgage protection premiums in wake of Shelter report

Southern Pacific Mortgage Limited is reducing the premium on its Single Premium Protected Payment Plan by 25 per cent.


The lender says it is making the move following a report by Shelter which showed that the self-employed and those on short-term contracts are three times more likely to have no mortgage payment protection insurance than those in permanent employment.


The sub prime lender says it is cutting premiums for loans in excess of £25,000 to encourage people to take out protection.

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