Mortgage payment protection insurance cover hits the spotlight again
- 24TH DECEMBER 2007
Mortgage payment protection insurance cover (MPPI cover) has hit the spotlight again and once more for the wrong reasons. In 2005 an investigation began into the payment protection insurance (PPI) sector which sparked an investigation which is still ongoing. The latest problems to hit the headlines are the fining of not only a mortgage firm but also the Chief Executive of the company.
The fines were handed out by the Financial Services Authority (FSA) for exposing consumers to a high risk of being sold protection they could not claim against when taking out a form of borrowing such as mortgages, loans and credit cards. With the Financial Services Authority putting out new guidelines for selling cover it is a shock that this happened in late 2007.
Clearly the payment protection sector is still suffering problems and the best possible way to buy what is invaluable cover when it comes to saving the roof over your head is to stick with a specialist provider. Ethical payment protection specialist British Insurance will make sure that the consumer gets access to the key facts of a policy so they are able to make an informed decision.
Mortgage payment protection insurance from British Insurance will begin to give you an income if you find yourself out of work after suffering from an accident, illness or through unemployment. A policy would begin to pay a tax free monthly sum once you had been out of work for 30 days continually and then continue giving you a monthly income for up to 12 months.
Mortgage payment protection insurance cover could help you to keep the roof over your head by providing you with an income. This income would ensure you would be able to continue repaying your mortgage instead of struggling to find the money and at the very worst, losing your home to repossession.
