SimplyBiz Mortgages has launched a PMI referral service for its members, in conjunction with specialist PMI brokers Medisurance.

The service will help members place both group and individual schemes with Medisurance, providing support and cover for all regulatory requirements.

The proposition will include both initial and renewal commission.

Martin Reynolds (pictured), CEO of SimplyBiz Mortgages, said: “We have offered members access to a number of products areas over the years, from commercial lending to protection on a referral basis, and the PMI referral service is an extension of this tried and tested formula.

“PMI is definitely undersold, but should form an integral part of the protection and wellbeing aspect of the adviser/client relationship. We have worked closely with Medisurance to ensure members have access to the best service.”

Kevin Simmonds, managing director of Medisurance, added: “SimplyBiz Mortgages is our first affinity partner and we are delighted that it has chosen to partner with us. We provide specialist support in an underserved market. We are looking forward to working with SimplyBiz Mortgages members to help them extend their product offering.”