New deal in mortgage protection market

The product allows full ASU cover from day one for £4.95 for every £100 that is insured, and introducers will be paid 25 per cent commission on an indemnity basis with no claw-backs.

Steve Hoare, managing director of HLP, said: "I am delighted that we have been able to tie up such a good deal with a provider of the standing of Wessex. We are committed to offering a quality service. Now we have an ASU product that compliments our extensive range of market leading mortgages.

"It is not only a good scheme for clients who are looking for peace of mind when they take out a new mortgage – it is also a great deal for out introducers, who benefit from the payment of a very competitive annual commission."

Nigel Preston, director of Wessex Group, said: "Over 1000 people per day loose their jobs in the UK through redundancy alone, often staying out of work for up to 6 months. With this in mind it is important to take precautions.

"Everyone hopes that the worst will not happen to them, but if it does and one becomes unable to pay the mortgage and other financial commitments, it is reassuring to have mortgage and income payment protection to fall back on."