Pulling together

budget protection focus

Professional Adviser

Mortgage payment protection insurance has not proved popular in recent years. Adrian Waters takes a look at the latest initiatives to increase take-up of this low-cost cover

The market for mortgage payment protection insurance (MPPI) is a conundrum. On one hand, many people including the Government acknowledge the importance of safeguarding the biggest financial commitment homeowners will ever make - their mortgage. On the other, the majority of borrowers do not have appropriate insurance cover in place to protect it. Research undertaken this year by Scottish Provident entitled High Wire Britain confirms at least 60% of homeowners believe owning their home is either 'critical' or 'very important' to their standard of living. Only 4% would be willing to give up...

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