Mortgage Payment Protection Insurance (MPPI)

Mortgage Payment Protection Insurance is also commonly known as Accident, Sickness & Unemployment (ASU) cover.

With the impact of the recent pandemic being particularly hard there is no doubt that we should all examine our need for some extra cover and security. Peace of mind is so important at the moment and having excess stress about the roof over your head is something we could do without.

Mortgage Payment Protection Insurance is designed to cover your mortgage repayments:

  • If you fall ill
  • Be injured in an accident
  • Become involuntarily unemployed

Policy terms, conditions and exclusions can vary, so we recommend that you take professional advice and always read the small print, particularly when it comes to Covid-19.

Mortgage Payment Protection Insurance covers a combination of insurances in accident, sickness and / or unemployment. If you already have adequate accident and sickness cover at work or via a separate policy you may simply want the unemployment element for your mortgage.

We also have similar cover for those who rent their home.

It’s important to highlight the difference between MPPI and general PPI. Despite falling under the same umbrella as PPI, MPPI is classed as a different product.

One of the main differences between Mortgage Payment Protection Insurance and PPI is that PPI is paid directly to whomever you have borrowed from, whereas MPPI is paid directly to you, the policyholder.

Both PPI and MPPI have had restrictions placed on them to ensure that the recent mis-selling scandal does not happen again. This monitoring allows you to be confident about purchasing Mortgage Payment Protection Insurance.

Central Financial Services will advise you on the best cover for your circumstances by taking an holistic and practical approach to your needs and budget. Get in touch with one of our advisors today.

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Really easy to deal with. Straight forward, very efficient and everything explained. Made a somewhat stressful time much easier for me.
Cindy BrennanDaventry

Central Financial Services is a trading style of Central Financial Services (UK) Ltd which is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Conduct Authority. There may be a fee for mortgage advice. The precise amount will depend on your circumstances but we estimate it will be £250. Your home(property) may be repossessed if you do not keep up repayments on your mortgage. Please note Buy to Let mortgages are not regulated by the FCA. Registered in England and Wales Reg. 8807671 Registered Address: 170 Halton Road, Sutton Coldfield, B73 6NZ.