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Which? plans in-house mortgage protection service

Consumer champion Which? is to offer in-house protection advice to its mortgage customers.

Which? Mortgage Advisers’ customers are currently directed to LifeSearch but will be brought in-house from the autumn. Which? will continue to partner LifeSearch for consumers enquiring about protection through its other services, such as the Which? Money Advice helpline. The company says it will keep the channels it uses for protection advice under review.

The body will launch its own protection panel although providers are yet to be confirmed.

A Which? spokeswoman says: “Which? Mortgage Advisers will soon be offering no-obligation protection advice to help people safeguard their mortgage.”

Plan Money director Peter Chadborn says: “The further Which? forays into this kind of activity, the more it will dilute consumers’ perception of trust. It is hard to call yourself a consumer champion while effectively selling products at the same time.”


West Brom to pay £2m in refunds

West Bromwich Building Society is set to refund thousands of borrowers who were charged too much interest when redeeming their mortgages. An internal investigation conducted by the society showed 7,669 borrowers were charged interest up to the end of the month of redemption, rather than the date of redemption itself. West Brom has set aside […]

Labour to bring in mansion tax

Labour plans to introduce a mansion tax, which it claims will target only the richest homeowners, if it wins power at the next general election. Writing in the Evening Standard last week, shadow chancellor Ed Balls said Labour’s proposed “fair” mansion tax would apply only to properties worth over £2m and the limit would be raised […]

Friends Life boosts income cover

Friends Life has increased the percentage of income customers can cover through its income protection policies. The provider will now cover 65 per cent of the first £10,000 of a customer’s annual salary and 55 per cent of all remaining income above that threshold. Under the previous structure, Friends Life covered 70 per cent of […]

Wonga hit with a £2.6m redress bill

Payday lender Wonga will pay £2.6m in compensation for “unfair and misleading” debt collection practices, including the sending of letters from non-existent law firms. The practices were discovered through an investigation launched by the Office of Fair Trading and taken up by the FCA. In certain cases, Wonga had added charges to customer accounts to […]

Keep calm and carry on?

We British are known for our stiff upper lip and just getting on with things. It’s part of our quirky cultural behaviour – like forming orderly queues, or saying sorry when it’s not our fault. Many of us just aren’t that great at talking about what’s bothering us. But if someone feels that the stresses […]


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