Enhanced Wealth how has access to the new British Insurance Mortgage Payment Protection Insurance (MPPI) policy for households involved in shared ownership schemes.
This enables people who part-purchase a property on a shared ownership scheme to protect their monthly mortgage and rental payments should accident, sickness or unemployment occur.
Shared ownership is part of a Government plan that aims to help more than 100,000 households into home ownership by 2010. The scheme allows people to have a mortgage on the share of the property they wish to buy and pay rent on the share they don’t own.
The Mortgage Payment Protection policy from British Insurance has a 5 star rating from Defaqto who after analysing 103 MPPI policies placed it ‘at the very top of the market’ for its wide ranging cover and support services.
The MPPI policy offers back to one day cover, age rated premiums, which makes the cover cheaper for younger lives and a choice of insurance cover options.