Provider calls for less premium profit on MPPI
Lenders must reduce the cost of mortgage payment protection insurance (MPPI) to help reduce the number of families seeing their homes repossessed, according to Simon Burgess, managing director of British Insurance.
Burgess responded to predictions from the Council of Mortgage Lenders that 45,000 homes will be repossessed in 2008.
Last week the CML announced there were 18,900 repossessions in the six months up to
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