The Daily Mail reported today that high street banks are charging borrowers twice as much for life insurance as they would pay if they bought independently. Experts expressed shock at the difference in cost for what is essentially a straightforward policy where the main factor is price, and consumers were urged to shop around rather than taking a policy through their bank or lender for convenience.
The Daily Express also looked at life insurance, discussing the additional cover provided by single rather than joint policies. Whilst joint policies often work out cheaper, two separate policies will mean two payouts, which can be useful for family protection.
Elsewhere the Mail revealed that the cost of mortgages for First Time Buyers is set to fall if Government plans to offer 90% mortgages through the Post Office go ahead, whilst the Daily Mirror reported that house prices have risen by £103 per day in March, bringing the value of the average UK home to £164,519 – the highest since August.