Lenders missing insurance sales opportunity 29 April 2015 3:37PM John Kavanagh Lenders are missing an opportunity to sell insurance when they sell a mortgage, with fewer than a third of people even remembering that they were offered a home and contents policy at the time they took out a mortgage.According to the latest QBE Barometer, an annual study of the mortgage market, 31 per cent of people could recall being offered home and contents insurance at the time they were taking out a mortgage. Thirty-three per cent could recall being offered mortgage protection insurance and 25 per cent could recall being offered income protection insurance. Only seven per cent of those getting a mortgage through a broker recall being offered home and contents insurance.QBE found that only 23 per cent hold mortgage protection insurance - down from 27 per cent last year. Those who have struggled with mortgage payments over the past 12 months are less likely to have mortgage protection insurance (18 per cent) than those who are ahead with their repayments (30 per cent).Forty-three per cent of borrowers are ahead on their mortgage repayments, down from 46 per cent last year.Among the report's other findings, 14.5 per cent of adult Australians intend to buy property in the next 12 months, compared with 14.8 per cent last year.Thirty-seven per cent intend to buy property in the next five years.Housing affordability is a growing concern, with 29 per cent saying prices are so high they cannot afford what they want. In 2013, 25 per cent said they were concerned about this.Forty-nine per cent of people who chose or would choose a mortgage with a big bank said it was because of an existing relationship, while 30 per cent said their decision was based on the reputation of the institution.The main reasons for choosing other lenders were better rates (49 per cent) and because the mortgage suited the borrower's needs (46 per cent).