The products will be available through intermediaries using The Exchange and Xplan Mortgage platforms, on Iress’ income protection service.
It includes accident, sickness and unemployment (ASU) cover, and accident and sickness-only policies with one- and two-year payment terms.
The products were designed to meet the growing demand for short-term income protection, driven by changing consumer needs, particularly among people who do not qualify for or need long-term cover.
Louise Sarsby, head of provider and lenders at Iress, said: “We’re thrilled that Walsham Brothers has chosen Iress to bring their new mortgage payment protection insurance products to the market. They’re a valuable addition to the growing number of protection providers on our service, offering advisers greater choice to meet the rising demand for flexible, accessible protection.
“We’re proud to be able to give them the means to maximise distribution from day one through The Exchange and Xplan Mortgage.”
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Jamie Leong, senior consultant at Walsham Brothers, said: “We’re incredibly excited to be launching our mortgage payment protection insurance products at a time when we think it is really needed. Following the pandemic, many insurers withdrew their MPPI offering, leaving a noticeable gap in protection for everyday borrowers. With the rising cost of living, some often forgo financial protection altogether, leaving their homes at risk.
“We believe our MPPI products will help fill a vital need in today’s mortgage protection landscape, and by partnering with Iress, we’re able to provide an affordable and accessible alternative to bolster advisers’ existing protection portfolio, which represents a real step forward in the right direction.”
