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Paymentcare backs OFT’s PPI investigation

Paymentcare has welcomed the announcement by The Office of Fair Trading that it will be launching a probe into the selling of Payment Protection Insurance.

Shane Craig, managing director of Paymentcare, says: We have long campaigned for an OFT investigation into the selling of PPI by the major High Street providers.

Consumers have for far too long been ripped off by banks and lenders. Vincent Cable, the LibDem shadow chancellor, has lent his support to our campaign, and we are delighted that the OFT has finally decided to examine the market.

The study, which is the outcome of the OFT’s consideration of a recent super-complaint from Citizens Advice will be launched early in 2006.

PPI is applied to a number of credit products including mortgages, loans, credit and store cards, and protects a borrower’s ability to pay the loan in case of accident, sickness or unemployment. Around 6.5 to 7.5 million policies are taken out each year and it was estimated in 2003 that 5.4bn in premiums was generated.


West Brom boosts local fundraising

The West Bromwich, in partnership with the Mercian Trust, is donating 10,000 to support local seasonal fundraising activities. Among the beneficiaries are the Phoenix Singers, who will give a fundraising concert in aid of St Mary’s Hospice at the Adrian Boult Conservatoire in Birmingham on December 17. West Brom is also working with the Birmingham […]

Still opportunities for SIPP investors says Portman

Matthew Wyles, group development director at Portman says there is still oopportunities for Self Invested Pension Plan investors to buy into Real Estate Investment Trusts.He says: The chancellor appears to have cut away much of the much vaunted potential for direct investment via a SIPP into buy to let property. It never seemed very logical […]

SWB publishes brokers’ equity release guide

Scottish Widows Bank has published a guide for brokers looking to get into the equity release market. Your clients demand more from life – A 2005 guide to the UK Equity Release Market explores the history of this controversial product and outlines factors driving the market, such as only one in five people expecting to […]

Brokers are well placed to restore confidence in PPI

From Simon Burgess The time is right for mortgage brokers to tap into the public discontent over the sale of payment protection insurance and at long last take their share of this market. They may even be able to change consumer perceptions and promote the fact they have a choice. Brokers are well placed to […]


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