MPPI

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Demand for Mortgage Payment Protection Insurance is still dwindling, but a new philosophy on debt waiver products could rejuvenate the market. Fiona Murphy reports.

National Counties Building Society has launched the UK's first ever mortgage waiver product, giving borrowers built-in protection from unemployment.

LifeQuote has predicted an increase in protection sales as a result of the MMR, as prudent lenders consider a borrower's ability to pay, not just as a result of employment issues but also ill health.

Mortgage Payment Protection Insurance (MPPI) was ‘caught in the crossfire' of the PPI scandal. With the market contracting to a handful of providers, Fiona Murphy asks, does MPPI still have a place for consumers?

Compensation and refunds related to mis-sold payment protection insurance (PPI) have reached £9.3bn, the Financial Conduct Authority (FCA) has said.

The Financial Ombudsman Service has raised concern about non-insurance products that look like PPI, amid many complaints confusing similar product types.

PPI controversy, opaque financial services and lack of trust in the industry are key barriers to widespread apathy about insurance protection, pensions and savings, Zurich has warned.

The majority of polled advisers have said FSA and Office of Fair Trading final guidance on short-term income protection provides complete clarity, amid recent concern over the PPI-style-product guidance.

The FSA has said it will provide further guidance on short-term income protection if it received individual demand for it, according to an attendee at a meeting with the regulator yesterday.