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After mis-selling Mortgage Payment Protection Insurance (MPPI) left, right and centre, and causing countless PPI Claims, mortgage brokers are now increasingly reliant on the protection market to survive. Talk about full circle, protection products now account for around 40% of a typical adviser’s income and around 75% of all brokers say that PPI is “very important” to their business.

It’s easy to see why the poor old mortgage advisors have seen their paypacket hit, with figures showing mortgage related income falling to just 44% of their total average income. But they’re not down in the mouth, most advisors are looking forward to the job and welfare cuts and are predicting an increase in protection sales as a result.

Related posts:

1. PPI Claims Are Keeping The FSA Busy
2. Cancel Mis Sold PPI But Consider Switching Or Getting A More Appropriate Policy
3. Despite Record PPI Claims Levels, Qualifications Will Not Be Required
4. Paymentshield Make Cuts As PPI Claims Soar
5. Those Who Reclaim PPI Could Receive Help From An Unexpected Source