Abbey is offering three months’ free mortgage payment protection insurance for all new applications from now until the end of the year.The offer is intended to encourage more borrowers to take up the cover. Abbey says research it has carried out shows that home owners are leaving themselves vulnerable when it comes to mortgage payments. Half of UK adults admit they could not maintain their current lifestyle beyond one or two months if their work circumstances were to change. Yet only one in five have protected their mortgage payments in case of accident, sickness or unemployment. Lloyd Wilson, head of insurance marketing at Abbey, says: “At a time when people may be thinking about their mortgage options because of the recent rate cuts, they should also give some thought to protecting themselves against unforeseen changes in their lives. Paymentcare, Abbey’s MPPI policy, is available for accident, sickness or redundancy, and home owners can choose the combination of cover that best suits their needs.