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Lenders must reduce MPPI rates, says British Insurance

Lenders should lower MPPI rates to slow down the number of repossessions, says independent provider British Insurance.

The insurer’s managing director Simon Burgess is calling for lenders to reduce MPPI rates to help ensure more customers have a financial safety net should an accident, sickness or unemployment occur.

Burgess’ plea comes after the CML predicted 45,000 homes will be repossessed in 2008.

He says: “Lenders have a duty of care to make this insurance affordable and easily accessible. If lenders had provided more affordable MPPI policies that match our prices I suspect more people would be able to keep their homes.”

Burgess is now warning homeowners who lose their wage to be aware of the nine-month waiting period for any Government help in meeting their mortgage payments.

He says: “If they had PPI, they would receive back to day one payments and have their mortgage repayments met for up to a year.”


Advisers turn to discretionary management

Advisers are looking increasingly at providing the discretionary management of client assets, says Worldwide Financial Planning IFA Nick McBreen.

Chief exec leaves in cru row

Chief executive of cru, Stuart Anderson, has left the company after differences with chairman Jon Maguire over the future strategy of the business.

Leading Edge – April 2017

There is little doubt 2017 will be a year of political uncertainty. Leading Edge is Royal London Asset Management’s regular review of investment markets. This edition explores some of the impacts that this uncertainty is having on investors, from the pitfalls of prediction within UK equity investing to the dangers of opting for convenience over […]


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