Borrowers encouraged to shop around for PPI

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.

Bookmark this!