MPPI Payable with lodger income?

ben1985

Hello there,

I should hopefully be in my flat within a week as long as the solicitors get there fingers out there backsides and all the documents sent.

I've been looking at MPPI cover and according to money saving expert the cheapest is I Protect. It will only cost me just over £10 to pay my mortgage of 400-ish + 25& of that for bills.

My only concern is if the worst happened, made redundant and needed my MPPI then what would I Protect say if they can see the lodger money coming in? Is this any of there business and long as I am following the terms set out initially in the MPPI document?

Regards

BW

yelf

shouldnt be aproblem - if you lose your job you lose your job and will need that income.

SelbyJay_2

I think you can earn up to about £3.5k a year from rental income that you dont have to declare.

My lodger pays cash, so there's no proof of the extra income.

ben1985

Hi.

I just thought that they would want to see bank statements and they would wonder about the income but as long as it does not affect my MPPI then that's all I'm concerned about.

BW