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Nationwide launches free mortgage protection

05 May 2005
Nationwide launched three months' free mortgage payment protection insurance (MPPI) cover yesterday.

Both new customers taking out a mortgage with Nationwide and existing customers who are moving home can take advantage of the offer, which offers a safe and competitive way to feel reassured that your mortgage will continue to be paid no matter what life throws at you.

Nationwide's MPPI provides cover for up to two years for monthly mortgage payments, as well as optional protection for other monthly bills.

Customers who take advantage of the current special offer are under no obligation to continue with the plan, but if they do they will pay competitive premiums of £5.39 per month per £100 of accident, sickness and unemployment cover.

"MPPI provides borrowers with peace of mind that their mortgage payments will be covered in the unfortunate event of an accident, illness or redundancy," said Stuart Bernau, executive director of Nationwide.

"In recent weeks, high profile job losses act as a reminder of the uncertainty of the future and how important MPPI can be."

Nationwide's MPPI premiums can save you up to £1.30 on MPPI offered by some of the leading competitors.

Click here to find out more about mortgage protection.

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