Mark Skinner
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First Direct Closes Doors To Non-Customer Mortgages
HSBC subsidiary First Direct has withdrawn the offer of mortgages to non-customers, further fuelling the crisis in the lending industry. Recently the bank has been receiving a deluge of applications and simply does not have the staff and resources to efficiently process the information. nnChris Pilling, First Direct's chief executive, said: ‘We've seen unprecedented demand for our mortgages since January thanks to our highly competitive pricing and the decision of other
May 22, 2008
Article
Crime And Bad Conditions Hit Winter Car Insurance Claims
Car insurance provider Esure has warned motorists that driving in the winter months is substantially more likely to result in accidents. According to statistics the accident rate increases by 31% in winter, a rise that is due to reduced daylight and inadequately gritted roads. This has been particularly pronounced in the opening months of this year, when icy conditions and high winds swept all parts of the nation. nn20% of drivers polled had been involved in an accident becau
May 18, 2008
Article
Lack Of Cover Taken Out By Self-Employed Reflects Growing Apathy To Life Insurance
It is particularly vital to take out life insurance if you are self-employed, according to the Association of British Insurers. They are urging those going into business for themselves to think about the employee benefits that they will be losing out on when they become their own boss. Company policies such as sick pay will no longer be available meaning that a spell of illness or injury could have serious financial ramifications. nnNick Kirwan, head of health and protection
May 17, 2008
Article
Extreme Weather Conditions Drive Up Home Insurance Premiums
Increasingly extreme and unpredictable weather could force up the cost of home insurance dramatically this year. According to an insurance industry report 90% of industry professionals believe that premiums are set to soar in areas most affected by floods or high winds, and they blame the government for not taking stronger preventative measures.nnLast summer the country was ravaged by floods and storms that saw large parts of Gloucestershire and Yorkshire underwater, whilst e
May 17, 2008
Article
Difficulties Of Obtaining Travel Insurance If Suffering From Illness
Many people are finding it increasingly difficult to find adequate travel insurance if they have recently recovered from an illness. This is resulting in travellers excluding certain medical conditions on their policy; a tactic that can leave them high and dry should the condition return whilst they are holidaying. nnInsurers vary in their willingness to include pre-existing conditions in their policies. Christian Young, of the AA, says: ‘You can't exclude just one medi
May 17, 2008
Article
Critical Illness Cover Could Be More Practical Than Life Insurance
Advances in medicine and increased life expectancy have diluted the importance of life insurance, according to a leading South African surgeon. Dr. Marius Barnard asserted that these days critical illness insurance is a wiser investment due to its practical benefits. nnDr. Barnard, who created the first critical illness cover in 1983, said: ‘If you die at 30, life insurance was more important, but if you get a critical illness at 55, or 45 when you are at the height of
May 16, 2008