Walsham Brothers has chosen Iress to launch four new Mortgage Payment Protection Insurance (MPPI) products to the market through intermediaries using The Exchange and Xplan Mortgage.
The new products are available via Iress’ Income Protection service on The Exchange and Xplan Mortgage, and include Accident, Sickness and Unemployment cover and Accident and Sickness-only options with one and two-year payment terms.
The products are designed to meet the growing demand for short-term income protection (IP), driven by shifting consumer needs, particularly among those who may not qualify for or require long-term cover.
Iress’ Head of Providers and Lenders, Louise Sarsby, said: “We’re thrilled that Walsham Brothers has chosen Iress to bring their new Mortgage Payment Protection Insurance products to the market. They’re a valuable addition to the growing number of protection providers on our service, offering advisers greater choice to meet the rising demand for flexible, accessible protection. We’re proud to be able to give them the means to maximise distribution from day one through The Exchange and Xplan Mortgage.”
Walsham Brothers’ Senior Manager Nicole McDermott said: “We’re incredibly excited to be launching our Mortgage Payment Protection Insurance products at a time when we think they are really needed. Following the pandemic, many insurers withdrew their MPPI offering, leaving a noticeable gap in protection for everyday borrowers. With the rising cost of living, some often forgo financial protection altogether, leaving their homes at risk. We believe our MPPI products will help fill a vital need in today’s mortgage protection landscape, and by partnering with Iress, we’re able to provide an affordable and accessible alternative to bolster advisers’ existing protection portfolio, which represents a real step forward in the right direction.”
