Credit, collections & insolvency news
A new research paper from Beagle Street has estimated that over £400 billion of mortgage debt is not covered by life insurance in UK
Beagle Street Associate Marketing and Distribution Director, Beth Tait, said “With this study, we aimed to give intermediaries the powerful evidence they need to recommend that customers take the critical step of protecting their mortgage. Unexpected death is not something we want to think about, but it’s the responsible thing to do to avoid leaving loved ones in the lurch, especially given excess mortality rates post-COVID. This paper also comprehensively provides government, social scientists and large employers with important perspectives on the issue, so that we can collectively do more to encourage uptake.”
| Area | Mortgage Cover Gap
(£ million) |
| Great Britain | 433,027 |
| Wales | 16,102 |
| Scotland | 27,864 |
| London | 86,354 |
| South East | 81,963 |
| East of England | 50,668 |
| North West | 38,175 |
| South West | 36,392 |
| West Midlands | 32,076 |
| Yorkshire and the Humber | 26,909 |
| East Midlands | 25,650 |
| North East | 10,872 |