Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Shepherds Friendly and Primis Partner to Distribute Income Protection

Shepherds Friendly has entered into an agreement with Primis Mortgage Network to distribute its income protection products. The partnership will make Shepherds Friendly’s offerings available to Primis’s network of nearly 3,000 mortgage advisers and over 1,000 mortgage and protection firms across the UK.

Under the terms of the deal, Shepherds Friendly’s income protection products will also be distributed through Novium, the protection sourcing platform available to Primis members. This move aims to increase access to income protection for UK households, particularly at the point when individuals take out a mortgage.

A survey conducted for Shepherds Friendly in October found that only 14% of UK adults working full-time had income protection. Among those without a policy, 48% had a mortgage. The survey also revealed that more than a quarter of homeowners mistakenly believed income protection insurance did not cover mental health conditions such as anxiety or depression, which discouraged some from taking out cover.

The partnership between Shepherds Friendly and Primis is intended to address the gap in income protection among mortgage holders. For letting agents and inventory clerks, this development may be relevant as it highlights ongoing efforts to improve financial resilience among tenants and homeowners, potentially reducing risks related to rent arrears or missed mortgage payments.