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Consumers paying 225 to much for MPPI, says BI

British Insurance recently conducted a mystery shopping survey and found that consumers are paying up to 605 per year too much for their loan protection cover and 225 for mortgage cover.

Simon Burgess, managing director of British Insurance says half of the average credit card spend on Christmas shopping this year is needlessly going on payment protection insurance.

With major credit card providers predicting that consumers will fork out an average of 1,270 on their cards in the run up to Christmas, British Insurance is urging consumers to shop around for cover and turn premium over-spend into presents.

Burgess says: “The money wasted on inflated premiums could have gone towards buying this years gifts and groceries or contributed towards a Christmas holiday.

Consumers are instinctively keen to shop around for the best deal when it comes to goods, so why not payment protection? You cannot ignore savings of over 600 a year for loan and more than 200 for mortgage cover think of the presents that can buy.”


DCLG approves RICS for HCRs

The Department for Communities and Local Government has approved Royal Institution of Chartered Surveyors to regulate those members who wish to carry out home condition reports as part of the government’s proposed Home Information Packs.Steven Gould, RICS director of Professional Regulation and Consumer Protection, says: “We are delighted to be able to provide this new, […]

Branches must grow in deprived areas

Farepak’s collapse has generated a huge am-ount of publicity over the practices of the company, its directors and the effect on the people who lost out. But it also raises questions about the way the financial services sector serves people on low incomes.

Keep up with European developments

Attention is turning to the European dimension of mortgage regulation and the FSA has unveiled a new section on its website dedicated to this subject, says Bill Warren

Nationwide denies revoking its one-rate-for-all policy

Nationwide is denying it has revoked its promise to offer the same rates to new and existing customers, despite it being set to offer two different rates for purchases and remortgages.From December 1, Nationwide will offer one set of rates for new and existing customers looking to purchase and another set for new and existing […]


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