Protection insurance broker Goodfellows has launched mortgageSAFETYNET, to offer improved terms on its Mortgage Payment Protection Insurance (MPPI) cover.
Goodfellows said mortgageSAFETYNET was underwritten by Hamilton Insurance Company and was fully compliant with the ABI/CML baseline standard.
Product features include `back-to-day-one' cover, after a waiting period of only 30 days, and three months free cover to all policyholders.
Also, there is no initial exclusion period for new or re-mortgage borrowers or those transferring from existing more expensive policies.
