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Broker opportunity in PPI reforms

Brokers can capitalise on the Competition Commission’s proposal to ban point-of-sale payment protection insurance, claims

The online insurance provider says brokers can use the recent PPI reforms to their advantage to sell their clients a more competitively priced protection product than has previously been offered on the high street. has compared the cost of an Abbey PPI product versus the price of its own standalone policy.

It found that to protect a £10,000 personal loan with Abbey over five years at 7.9% would add up to an additional £3,084.60 over the term of the loan.

The same standalone policy from works out at £717.60, a saving of £2,367.

Shane Craig, managing director of, says: “A huge amount of available custom will be released to the market when the changes come into effect.

“Brokers are in a strong position to make the most of this chance to repair battered business levels.”


A&L reduces fixed rates by up to 0.90%

Alliance & Leicester has launched a portfolio of mortgage products, with fixed rate mortgages being reduced by up to 0.90%.

Chorus of disapproval

Mole scaled the dizzy heights of the Gherkin last week thanks to The Mortgage Alliance. Mortgage Strategy publisher Anna Ruddock and ace reporter Natalie Holt were treated to a champagne reception at the top of the Swiss Re Tower followed by a slap-up meal.

Bridging is no longer a dirty word

It’s not that long ago that short-term finance, or, perhaps more specifically, bridging finance were viewed as dirty words by mortgage brokers. The rates on offer were punishing, meaning there were only a handful of situations where it would be appropriate to arrange one. Some lenders didn’t exactly uphold great reputations for service standards either; […]


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