Walsham Brothers has launched a suite of new mortgage payment protection insurance products through Iress, making them available to intermediaries using The Exchange and Xplan Mortgage.
The four products, accessible via Iress’ Income Protection service, include accident, sickness and unemployment (ASU) cover, as well as accident and sickness-only options, with payment terms of either one or two years.
The launch comes amid rising interest in short-term income protection, as borrowers seek more flexible cover in response to the cost of living crisis and tightening household budgets.
Louise Sarsby, head of providers and lenders at Iress, 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.”
Jamie Leong, senior consultant at Walsham Brothers, added: “We’re incredibly excited to be launching our Mortgage Payment Protection Insurance products at a time when we think it is 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.”
