A facility that will allow advisers to source mortgage payment protection insurance (MPPI) for their clients from the entire market is to be launched by Mortgage 2000, writes Kirstie Redford.
Mortgage Payment Protection Supermarket, available early next year, aims to be the first tool available that gives advisers access to products across the whole market. Advisers will be able to compare 114 policies online.
The tool will also allow advisers to complete applications online and send the forms electronically to insurers. No signature will be required and clients will be covered immediately. Advisers will also be able to apply filters for initial periods and periods covered.
Insurers accepting online applications through the facility include Paymentshield, Norwich Union, Premier Writers and Wessex Group.
Simon Nixon, chief executive of M200, said: ‘This is the first supermarket for mortgage payment protection insurance available to intermediaries in the UK. Our subscribers can now compare virtually the entire mortgage protection market.’