§ Dr. CableTo ask the Secretary of State for Trade and Industry if he will take action to prevent the linkage of house insurance with mortgage grants. [160143]
§ Dr. HowellsCompulsory tying-in of mortgages with insurance was one of the practices criticised at DTI's mortgage summit in 1999. Since then, the number of lenders who require their customers to buy tied insurance has decreased and we estimate that less than 5 per cent, of current mortgage products feature such tie-ins. Consumers should now find it much easier to find a mortgage deal that does not prevent them from shopping around for insurance.