Customers are not obliged to continue with the insurance after this time if they choose not to.
Richard Vincent, general insurance manager, Bristol & West Mortgages, said “We are continually seeking ways to offer better value to our customers. We also hope that this initiative will help raise awareness of the importance of having insurance to protect your mortgage payments.
“MPPI is so important because you never know when an event may occur which will stop you from working. If you are suddenly taken ill or made redundant the last thing you need to worry about is losing your home because you can’t afford to keep up repayments on your mortgage.”
Bristol & West Mortgages changed its insurance provider to Zurich at the end of last year, and this initiative by Bristol & West Mortgages and Zurich supports both the Government and the CML’s plan of increasing MPPI penetration.