Payment Protection Insurance (PPI) – When you didn’t need it, you were paying for it and now you need it, you can’t afford it. Sound familiar? Thosands of homeowners across the UK are facing the dilemma of needed to spend a little more every month to pay for Mortgage Payment Protection Insurance (MPPI) incase they lose their job.
There’s no hiding that PPI has had a very bad time of late with mis-sold PPI being the main reason. But with a recent Fitch Ratings report showing that 15% of prime mortgages are in negative equity, appropriate PPI has never been a more attractive proposition.
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