§ Mr. CousinsTo ask the Secretary of State for Trade and Industry what his policy is towards tying the sale of insurance products to mortgage lending; and if he will make a statement. [130810]
§ Dr. Howells[holding answer 17 July 2000]: I consider that tying-in of mortgages with insurance often means that consumers pay uncompetitive premiums for their insurance cover. I believe that consumers should be free to shop around for the best deal.
DTI is therefore now consulting on a proposal to ban compulsory tie-ins of mortgages with insurance products. Once I have considered fully all the responses to the consultation, I will then look at how this proposal can be taken forward.