You are here: Home - News -

MPPI safety net widens

by:
  • 08/05/2002
  • 0
There has been an encouraging increase in the take-up of mortgage payment protection insurance (MPPI...

There has been an encouraging increase in the take-up of mortgage payment protection insurance (MPPI). According to the Council of Mortgage Lenders (CML) and the Association of British Insurers (ABI), 36% of mortgages taken out in the last six months of 2001 were protected, compared with 32% of policies in the first half of the year.

The figures mean 22.5% of all mortgages in the UK are now protected by MPPI. The figures are an improvement since the Sustainable Homeowners Initiative was launched by lenders, insurers and the Government in 1999, to reduce the volume of repossessions.

Peter Williams, deputy director general of the CML, said: ‘Research shows the safety net for homebuyers has been weakened by diminished State support. If the initiative is to achieve the goal of making home ownership truly sustainable, the Government needs to play a greater role.’


Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @thewritertype: Thoughts and prayers with Americans heading to their new partner’s family home for Thanksgiving.
  • RT @VickyHartleyMS: The Budget 2017 roundup - all the top mortgage and housing headlines - Mortgage Solutions https://t.co/tU2bT2W3p9 via @…
  • RT @VickyHartleyMS: Budget 2017: Fintech competition launched to develop FTB rent history-mortgage affordability tool - Mortgage Solutions…
Read previous post:
FSA fines firm £140k over compliance failure

An adviser firm has been fined £140,000 by the Financial Services Authority (FSA) for compliance fai...

Close