Keeping a roof over your head.
The arrival of the long-awaited baseline product for mortgage payment protection gives brokers an ideal opportunity to promote this essential cover, says Keith Sankey.
At the beginning of last month, the Council of Mortgage Lenders (CML)and the ABI finally announced their baseline product for mortgage payment
protection insurance (MPPI). The two organisations had been under pressure
for some time from homeowners, consumer groups and the government to
provide an acceptable minimum level of cover and to boost the currently,
woefully small, insurance take-up rate of a mere 20% of mortgage
borrowers.
In pushing for action, the housing minister Hilary Armstrong said
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