Finding an ethical mortgage payment protection insurance policy
- 17TH JULY 2007
The payment protection insurance (PPI) industry has come under fire as a result of the recent investigations into the practices of providers by the Citizens Advice; the Financial Services Authority (FSA) and the Office of Fair Trading (OFT).
The average mortgage payment protection insurance policy may not have been mis-sold but public confidence in such insurances has severely been undermined.
A mortgage payment protection insurance policy can protect homeowners against the loss of their home if they became too ill to work or were made redundant by making the repayments for them. Therefore, a mortgage payment protection insurance policy can give unparalleled peace of mind.
However, confidence in individual providers may deter the average individual from considering a mortgage payment protection insurance policy. In terms of the current financial climate in the UK though, no homeowner can afford not to have one it seems. It can be hard enough to meet existing debts and mortgage repayments whilst in full time work but when the household income is dramatically reduced then it can cause major cash flow problems.
Independent payment protection provider British Insurance can provide a peace of mind that few other providers can because the cost of the mortgage payment protection insurance policy is so low in comparison. At up to 40% less than most providers offer their policies for, every homeowner should consider this standalone policy. The monthly premium is independent of the mortgage and so can be easily managed but give you the peace of mind that is consistently reassuring.
