Countrywide's Nigel Stockton has branded the slump in protection sales through mortgage advisers ‘disgraceful' and warned that sales will continue to fall as the mortgage market grows
Stockton, speaking during a broker panel session at the Financial Services Expo in London's Old Billingsgate, said that around two-thirds of mortgages were completed without the appropriate level of insurance.
"I sold my first mortgages in 1987 and before I could get the completion I had to get the direct debit receipt to show that I had sorted life cover for that loan," he said.
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