Homebuyers drop protection for higher borrowing

A survey conducted by LV= found that 30% of young homebuyers would not take out financial protection insurance if they could borrow more instead, and 15% were prepared to borrow four times their salary or more. However, the survey found that the majority of people were relatively prudent, with 87% claiming they would not borrow more than four times their salary and 58% limiting themselves to three times their salary. LV= urges homeowners to think about whether they could keep up with mortgage repayments in the even of long-term illness or injury. The survey also found that only 27% of...