Paymentshield MPPI U.K. Mortgage Payment Protection Insurance
(MPPI). |
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Paymentshield Mortgage Payment Protection Insurance MPPI
MPPI stands for Mortgage Payment Protection Insurance, and is sold as an add on by most UK mortgage lenders.
The MPPI premiums can vary between lenders to a large degree, and has been pointed out by many in the finance industry, as being purely profit driven and has nothing to do with getting what you pay for.
In fact, the practice of selling MPPI policies to borrowers who are not eligible to make a claim should they find them selves in a position where they are likely to need to make a claim, has been widely condemned, and the FSA is currently investigating this unsuitable practice.
MPPI premiums can range from as little as £2.45 per £100 to almost double this.
If you have a mortgage or bank loan that you feel needs protecting by taking out payment protection policy, then the first step would be to get a quote from the link above - then shop around to see if you can beat it (on premium or cover level).
If you can, let us know !
MPPI - Paymentshield Mortgage Payment Protection Insurance - for mortgages, bank loans or general income protection.
