Managing director, Shane Craig, advised that the impact of a tightening market was pushing a wider group of borrowers closer to the brink of repossession, not just those living beyond their means.
"The current economic downturn is likely to result in unexpected redundancies this year and without some form of financial safety net, keeping up mortgage repayments can be virtually impossible.
"Whilst not a solution for those who have just accumulated more debt than they can handle, MPPI is an affordable form of defence against repossession."
He added that investing in an MPPI policy was especially important for those without a savings safety net, laying the blame for rising repossession figures not just at the feet of the lenders but also the broker and the borrower.
