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AbbeyNat offers free MPPI cover via registered IFAs

IFAs registered with Abbey National can offer clients three months&#39 free mortgage payment protection in a deal with Abbey National Insurance.

The deal is available up to June 30 for brokers making applications for a Paymentcare accident, sickness or involuntary unemployment policy starting before December 31.

The offer is open to borrowers, including those who already have a mortgage with Abbey or any other provider, who work at least 16 hours a week and source payment protection through an intermediary registered with Abbey.

New homebuyers will receive free cover from the time contracts are exchanged in England or missives are concluded in Scotland, unlike many MPPI policies which Abbey claim only become effective on completion.

It says the free offer may appeal particularly to existing mortgage holders who have recently changed jobs and do not have the protection of a good redundancy package.

To take advantage of the deal, intermediaries must go through an Abbey business development unit or get a quote at www.introducers.

Paymentcare product manager Peter Jones says: “This special offer gives intermediaries a great opportunity to gain some vital financial protection for their client and to do some extra business too.”


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