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More buyers take out MPPI

The Council of Mortgage Lenders is claiming victory in the campaign to encourage the take-up of mortgage payment protection insurance following the release of its latest figures.

CML statistics show 31.7 per cent of all new mortgages taken out in the first six months of this year were protected by MPPI compared with only 28.8 per cent in the last six months of 1999.

The CML says the per-centage of all UK mortgage borrowers now protected by MPPI increased to 19.6 per cent by June 2000 from 18 per cent at the end of last year.

Deputy director general Peter Williams says: “Increased take-up is particularly encouraging against the backdrop of a buoyant economy, when people are less worr-ied about a change in their circumstances.”

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