A new government scheme to help homeowners with their mortgages has not made payment protection insurance (PPI) superfluous, according to one company.
Insurancewide welcomed the 'mortgage holiday' proposals, but stated that not everybody will qualify for the assistance, which is why PPI policies may be required.
"Even for those who do qualify for government help, a PPI policy would be an extremely valuable investment," the organisation commented.
Under the government's plans, which have been agreed to by 70 per cent of the UK's lending market, homeowners would be able to defer some interest payments on their mortgages, although not repayments on the loans themselves.
BBC News reported a number of positive comments about the proposals from organisations such as Shelter, the National Housing Federation and the Liberal Democrats.
However, shadow chancellor George Osborne suggested it remains to be seen how effective the plans could be, as not enough details are available at present.
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