Tarred by the PPI mis-selling scandal, many lenders have dumped mortgage payment protection insurance propositions for short-term income protection products. However, Nicola Culley finds some brokers insisting there is a future for this ‘simple product for basic needs'.
Many lenders have been dumping tired mortgage payment protection insurance (MPPI) propositions for the flexible charms of short-term income protection lifestyle products. Most are unsurprised by the emerging trend; yet brokers insist there is still a clear, albeit small, place for MPPI. Most agree the cover has a sea of swirling doubts to conquer given its binding associations with PPI - and all the dark memories that brings. And with a smaller-scale mis-selling story of its own, will the Competition Commission clampdown following the PPI debacle be enough to keep MPPI alive? Going ba...
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