Mortgage PPI

RichPyke

Sorry if this is in the wrong place but it seems like a mortgage question to me.

Basically, i've had my mortgage for 3 months now and I really want to get some unemployement, sickness etc. cover soted just in case I become unemployed, ill or whatever...

Halifax no longer offer the insurance with the mortgages which left me fending for myself on this one...

I've googled it but all i find is reclaiming guides and services, nothing much about the actual insurance.

Now this may sound dumb but I am where it comes to this... but I do keep falling on to "life insurance" when looking for mortgage PPI... is this the same thing, or would it cover me if the company I work for goes under or if I fall ill for a long period?

Really need help with this one. A few links to comparison sites would be good too, I couldn't find mortgage insurance on them (but it may be me not knowing what I'm looking for).

All help is very much appreciated.

P.S. All the better if I can buy it through QuidCo, may aswell make the most of that place :-)

dunstonh

but I do keep falling on to "life insurance" when looking for mortgage PPI... is this the same thing,

No they are totally different.

Look up a local IFA. https://www.unbiased.co.uk There are around 30,000 IFAs and that site has 99% of them on there.

Let_Us_See

Basically, Mortgage Payment Protection Insurannce (MPPI) is a simple, short term policy to protect your mortgage in times of accident, sickness and unemployment (hense, the old ASU terminology). Cover is usually available for 12 months, although some providers offer a 24 month policy, and is normally purchased at £X amount per £100.00 worth of cover. For instance, if you had a £550.00 per month mortgage payment, plus £50.00 of building and contents premium, then a ballpark figure might be £6.00 x 6 (£600 cover) or £36.00 per month.

I am surprised you are having problems Googling 'providers of MPPI.'