View more on these topics

Demand soars for unemployment insurance

The deteriorating economy is beginning to inflict a toll on the jobs market, which has resulted in a surge in demand for unemployment insurance protection polices, says

Last week, when the global financial crisis hit new highs, the volume of calls to the standalone PPI provider shot up by nearly 50%.

Shane Craig, managing director or, says: “We are being bombarded with enquiries from all sectors, and the common theme is that people are finding the cover offered by high street lenders exorbitantly expensive.

“A growing number of applicants are telling us that they’ve always thought PPI to be a good thing but simply can’t afford the prices the high street lenders want to charge.

“On top of that, more people seem to be aware of the ongoing competition enquiry into PPI, a sure sign that consumers are becoming ever more savvy when it comes to their personal finances.”

He adds: “But while workers want the safety net of knowing they can cover outgoings in the event of being made redundant, they do not want to pay through the nose – which is why we are taking a lot of business away from the high street.”


Mergers could be beginning of the end

Are we finally witnessing the beginning of the end of the building society movement? Reports of its demise probably started as far back as Abbey National’s conversion to bank status in 1989.

Conti partners with A Place in the Sun

Overseas mortgage provider Conti Financial Services has formed a strategic partnership with the website of television series A Place in the Sun.

Woolwich cuts product rates

Woolwich is cutting rates on its fixed rate and lifetime tracker mortgages. Its three-year fixed rate deals start at 5.54% while five and 10-year products are available from 5.64%. All have a maximum LTV of 60% with a £995 fee. It has also launched a three-year fixed rate at 5.84% and a two-year fix at 5.99% available to 75% LTV.


News and expert analysis straight to your inbox

Sign up