Business, Legal & Accounting Glossary
Some home lenders have in recent years enticed customers with competitive ‘fixed rate’ or ‘low start’ deals. These deals are often sold on the condition that the lender takes out the home lenders own insurance policy. In that way, lenders can profit from the insurance business as compensation for offering what may have been a ‘cheap’ mortgage deal.
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This glossary post was last updated: 15th February, 2020