Quality but cheap mortgage protection insurance can be found
- 4TH AUGUST 2007
Looking around for the cover is essential if you want quality but cheap mortgage protection insurance. Mortgage payment protection insurance (MPPI) is one part of a suite of payment protection policies that can be taken out to ensure that if you find yourself unable to work due to an accident, an illness or unemployment, you would have a fixed monthly income that would enable you to continue repaying your monthly mortgage repayments.
If you shop around for mortgage payment protection insurance then you can get it far cheaper than taking out the cover that the high street lender offers alongside a mortgage. The cover doesn’t have to be taken out from the same provider from where you get your mortgage and, in the majority of cases, this is the most expensive way of taking out a policy.
The high street lender has recently come under the watchful eye of the Financial Services Authority for the way they have been selling the insurance. Not only were the premiums found to be sky high but also very little information was given which has meant that shockingly some consumers have been sold a policy on which they cannot possibly hope to claim and at an extortionate fee.
The good news is that there while the high street banks and lenders have so far monopolised the payment protection insurance market place, you can, by shopping around, get cheap mortgage protection insurance.
Quality but cheap mortgage protection insurance can be found, by going independently with a standalone, specialist and ethical provider such as British Insurance. Simon Burgess is the company’s Managing Director and a very outspoken one when it comes to the poor quality policies and shabby treatment the high street lender dishes out to the consumer. Quality but cheap mortgage protection insurance is the only thing that British Insurance sells, so you can be assured of getting the cover that you need, without breaking the bank.
