New figures from the Council of Mortgage lenders shows that an increasing amount of business is going...
Most owners of property who buy these sorts of policies still do so through their primary lender, but an increasing number, now 24%, of policies are sold through intermediaries the CML says.
Some 32% of new mortgages taken out during the first half of 2001 also came with protection, and some 2 million policies are now in force around the country.
The CML also believes these rates will continue to increase, presenting growing oportunities for intermediaries.
"With the economy expected to slow down and the housing market beginning to cool, recent borrowers are now encouraged to look again at how they can protect their mortgage repayments," the organisation says.
The CML is also pushing to grow the market by spreading advice on payment protection products with the help of the Association of British Insurers (ABI).
Together they want to raise awarness of this market among intermediaries.
Partner Insight: For Blackfinch, the arrival of its IHT portfolio services was a 'natural evolution' in the group's offering and points to an established track record of returning cash to investors.
Senior Managers Regime
Interest rate outlook unchaged
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