Insurance

Mortgage payment protection insurance (MPPI)

What is it?

Policies are available to protect most forms of personal credit, including mortgages, personal loans and credit card repayments if you're off work for a long time because of an accident or sickness. Many people will add unemployment cover to this to ensure that their repayments are covered in the event of redundancy. It is also known as Accident, Sickness and Unemployment (ASU) insurance.

Who can have it?

Our requirements are that you are aged 18 to 65 and that you are employed for at least 16 hours a week or on a long term contract or have been self-employed for a period of time.

Why do you need it?

Unemployment in the UK lasts an average of 36 weeks (DSS Analytical Services 2000). Trying to cover your mortgage repayments and associated costs without an income during this anxious time can be very challenging. It could exhaust all of your savings or even lead to your home being repossessed. The MPPI policies we can arrange for you offer either a 12 or 24 month benefit payment period, giving you the breathing space you'll need to concentrate on finding a new job.

And if you're unable to work because of an accident or sickness, you can focus on your recovery in the knowledge that your mortgage repayments are being met during this time.

What do we offer?

• Cover at a very competitive price
• Up to £2,500 per month cover for employed, self-employed or contract workers (subject to specified criteria)
• A choice of 12 or 24 months maximum benefit payment period
• A flexible waiting period so you that on application you can choose how long you want to wait before the benefits begin to be paid