View more on these topics

Paymentshield to offer standalone MPPI

Paymentshield is to re-offer standalone mortgage payment protection to customers.

From the beginning of April, it will launch MortgageProtector Solo for existing borrowers, meaning MPPI will again be available for both new and existing mortgage customers.

Currently it offers MPPI to new borrowers or remortgage customers through its existing underwriter. But it has joined forces with Cardif Pinnacle to offer the product.

Sandy McPherson, head of marketing at Paymentshield, says: “It’s no secret that due to the current economic situation some providers have looked into the immediate future and decided that MPPI is a sector that they don’t want to be in.

“But we recognise that it is in uncertain times, when people most require insurance, we are delighted to be able to re-offer stand alone MPPI cover to existing borrowers through our new relationship with Cardif Pinnacle.”

Andy Swain, chief commercial officer at Cardif Pinnacle says: “We are delighted to be able to bring our product and experience to market through Paymentshield’s relationships with intermediaries and look forward to a long and mutually rewarding relationship.”

The move has been welcomed by brokers.

Danny Lovey, proprietor of the Mortgage Practitioner, says: “There has been a bit of illiquidity in that market so any thing which involves firms getting back into it has got to be welcomed.”


Recommended

OFT goes soft on the Rock

The Office of Fair Trading is looking into whether competition will be hampered by banks that are propped up by the government.

AfI launches new website for brokers

Abbey for Intermediaries is launching an updated version of its website which offers brokers quick access to product criteria and pre-sales research tools.

Can you put a hat on?

By Sarah Scott, marketing consultant You might think the question in the title is a strange one. Perhaps even more so when you learn that it’s one of several asked as part of an assessment for Employment Support Allowance eligibility in the opening scenes of the 2016 film, ‘I, Daniel Blake’. Daniel is a carpenter […]