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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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