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RBS Loanguard - watch the small print!
pheasantry_2
Posts: 6 Forumite
Hi Moneysavers!
Just wanted to warn you that if you take out an RBS Loanguard to safeguard your mortgage payments, and then pay off your mortgage but would still like to keep the cover going to cover high household bills temporarily, they may still take the premium from you, but will refuse to pay out if you are made redundant. Keep a mortgage of at least £1 and if the worst happens and you're made redundant, you'll be covered.
Be warned!
Just wanted to warn you that if you take out an RBS Loanguard to safeguard your mortgage payments, and then pay off your mortgage but would still like to keep the cover going to cover high household bills temporarily, they may still take the premium from you, but will refuse to pay out if you are made redundant. Keep a mortgage of at least £1 and if the worst happens and you're made redundant, you'll be covered.
Be warned!
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