Borrowers encouraged to shop around for PPI
September 9 2009
The Times Online has reported that a Competition Commission investigation into the sale of Mortgage and Loan Payment Protection has concluded that the cover should not be sold to customers within seven days of their application for a mortgage, loan or credit card.
This investigation, it is hoped, would encourage those who want a mortgage to shop around with other providers before taking the, sometimes quite expensive, PPI that may be attached to their mortgage or loan. The lack of choice often forces people to take this cover from their provider.
7 people a day losing jobs outside of financial sector
September 9 2009
The Edinburgh Evening News has reported that 7 people not employed within the city’s main financial sector industry are losing their jobs everyday.
In the eight months to June a total of 6,821 redundancies were announced by Edinburgh based firms. The finance and insurance sector accounted for £5000 of the job losses (mainly through the Royal Bank of Scotland) but this left a further 1.821 within the manufacturing, retail and transport industries.
Whilst it was anticipated the financial sector would take heavy job losses the scale of the other affected areas has been disappointing.
Across Scotland there was 30.127 redundancies in the eight months to 5th June, with 22.6% of those down to Edinburgh and Lothians based firms.
