Categories: Banking & Finance

Level playing field for borrowers at last as FSA kicks point-of-sale PPI into touch – but independent products still best buy

BORROWERS finally face a fairer future now that the Financial Services Authority has brought the curtain down on point of sale PPI, says independent payment protection provider.

“This is the call to action that had been needed for so long,” said MD Shane Craig.

“It’s commendable that the FSA has moved so quickly on this following the Competition Commission’s recommendations last month to scrap point-of-sale PPI.

“All lenders have no choice now but to fall into line and relinquish the advantageous position they have held so long on this issue.”

But whilst borrowers now have the crucial breathing space they need to consider all the options open to them before choosing a PP policy, there’s still the matter of cost to take into account, adds Craig.

“Borrowers need to be aware that as far as cost goes, their lender’s policy is still likely to be more expensive than a standalone product,” he said.

“Consumers buying protection from a dedicated independent provider can be confident that the premium they pay is not driven by the need to boost profits or plug holes left by the volatile economic climate.”

www.Paymentcare.co.uk

AElliott

Recent Posts

Pipar\TBWA Named Advertising Agency of the Year for the Second Consecutive Year

Reykjavík, Iceland, 13.03.2025 - PiparTBWA has been named Advertising Agency of the Year for the…

3 weeks ago

QUIRKY CAMPERS UNVEILS DEDICATED GLASTONBURY 2025 CAMPERVAN FLEET

London, UK – March 12, 2025 – Quirky Campers, the UK's leading platform for handcrafted…

3 weeks ago

eXo Platform Unveils Version 7.0: A Game-Changer for the Digital Workplace

Paris, March 11, 2025 – eXo Platform, a leading open-source provider of intranet and digital…

3 weeks ago

Sasa Software Appoints Udi Doenyas as New Chairman of the Board

Tel Aviv, March 11, 2025 – Sasa Software, a global leader in advanced cybersecurity solutions…

3 weeks ago

Leaders, influencers, and individuals worldwide walk backwards to highlight the need to move forwards for women‘s rights.

Global Regression in Women's Rights Sparks UN Women National Committees’ 'March Forward' Campaign. Fri, Mar…

3 weeks ago

Savox Communications Initiates Cooperation Deal with a Northern European Customer for Advanced Audio and Intercom Command System

[Helsinki, Finland – March 7, 2025] – Savox Communications, a global leader in mission-critical communications…

4 weeks ago