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Labour may link MPPI with benefits system

The Government&#39s Green Paper on housing is looking at integrating mortgage


payment protection insurance and the benefits system.


The CML welcomes the paper but says IFAs should not take this as a signal


to sell MPPI to lower-income groups. The CML says some low- income


individuals may have alternative protection provided by the state to


prevent them falling behind on loan repayments, which could make MPPI


unnecessary, and it says independent advisers must work towards tailored


sales.


The trade body says the Government&#39s goal of providing greater help for


people on lower incomes to buy a home is to be welcomed, particularly as


there are measures to promote more sustainable homeownership and to


reinforce the safety net for borrowers taking on a loan.


Communications manager Bernard Clarke says: “It is early days to say


whether it is good news for brokers or lenders.”

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