Hamilton's, the schemes division of Edgar Hamilton, has launched a mortgage protection scheme that aims to capitalise on Government changes to state support.

Describing it as "the business opportunity of a lifetime", Edgar Hamilton said the policy - Hamilton Mortgage Protector - represents "a great cross-selling opportunity for all brokers and not just IFAs".

John Hayes, who manages the scheme, commented: "The Government's Sustainable Home Ownership Initiative means all homeowners will be contacted by their lenders and encouraged to take out mortgage protection insurance.

"The beauty about this type of insurance is that once you've completed the initial selling, most of the work is done and the commission continues to be paid at the same rate year-on-year."

Nigel Dyer, marketing consultant and author of Edgar Hamilton's Marketing on a Shoestring, added: "The Government's withdrawal of much state protection for homeowners has created a new market worth £1 billion of premium income.

"The Government will be promoting its initiative hard - but lenders will be chasing it aggressively, so brokers must too.

"Remember, it's not a life product. And it's not difficult to sell."