Homeowners cut back on insurance

HOMEOWNERS desperate to cut down on mortgage repayments are scaling back on life insurance cover, saving up to €300 a year.

Brokers said they are seeing an increase in the number of clients asking for help in cutting the costs associated with paying a mortgage.

One of the main areas is a cutback in life or mortgage protection insurance as homeowners look to maintain some level of coverage but want to cut costs to the bare minimum.