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Buying your Home

Insurance: The lender will normally insist that you take out life assurance, except where your mortgage is linked to an endowment policy. The cheapest option is term assurance (which pays out if you die before the end of the mortgage term).

You also need to buy buildings and contents insurance. Lenders are often keen to promote their own policies. You do not have to take out these insurances with you lender and better deals may be available elsewhere. Your local high street insurance broker will be able to help. Also remember that there are a number of direct line telephone insurers who may be competitive. This is an area where you may be able to bargain. If one company gives you a lower quote, go back to the other and try to negotiate a better premium. This often works.

REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser.