BBA worried about negative commentary on PPI | LoanLine

Home

About Us

Legal

FAQs

Glossary

Customer Comments

Careers



Loan Calculator

Loan Application Form

Loan Special Offers

Loan Payment Protection

Remortgages

Commercial Mortgages

Sitemap • Directory •

Home Finance News


	BBA worried about negative commentary on PPI
	Continuing press reports and investigations by the FSA are giving rise to widespread negative commentary on the subject of Payment Protection Insurance (PPI) and could be instilling a reluctance to purchase for people that really need the protection offered by these policies. The British Bankers Association says this type of insurance provides peace of mind for millions of people and gives them an alternative choice should their situations change. The main prong of recent FSA attention has been into the provision of information alongside fair and transparent selling of these products, not necessarily raising issues about the products themselves. The FSA conducted a round of mystery shopping exercises and as a result has followed up with a selection of providers who were found not to be sticking to guidelines. The BBA says it is working very closely with the FSA on this matter and it's members have been working hard to ensure loans and credit card customers receive the information and advice they need to make informed purchase decisions. Payment Protection Insurance policies are frequently offered to new loans customers as a way of protecting against financial difficulties should customers fall ill or lose their jobs, but the policies are viewed as complicated, with customers not able to understand exactly what they are being covered for and how much the cover is costing them. In summary the BBA said it welcomed the worked of the FSA investigations but that it should not forget that loan payment insurance is a helpful product for many people.

	More news
January 2008 Pause in house price movement Banks battle out charges case in court The changing value of money Heating costs climb Sub-prime mortgage problems spreading Which way for interest rates? December 2007 Focus on house prices Direct debits in demand Political attitudes to marriage FSA arms to examine comparison sites Household costs increase Debt is now a way of life November 2007 PIN mania Loan companies reorganise Which way to the Rock benefits? Top financial tips for 2008 Investing in the future Treating customers fairly initiative October 2007 Bankers Association report on future protection Sub-prime mortgages effect continues FSA targets financial websites When a loan becomes necessary BBA worried about negative commentary on PPI Home owner's worries September 2007 Bank of England provides savers guarantee FSA continues assessment of PPI selling Self-employed options under review No consensus on UK house prices Debt review for Scotland released Loan plans subject to change August 2007 Dealing with debt is normal today The real cost of raising children Situation with bank charges unresolved Subprime mortgages to be reviewed Second homes set to outperform domestic market Buy-to-Let sector remains buoyant July 2007 Are credit cards encouraging debt? Interest rate increases good for savers Fixed rates making comeback at a cost TCF is good news for customers Borrowers making choices based on reputation Spotlight now on home insurance June 2007 Has the interest base rate reached its ceiling? High street retailers drop the cheque First Direct fee has desired effect Yorkshire Bank pushes penalty fee cases into small claims court Mortgages take bigger slice of income Popular reasons for a loan May 2007 More families rely on two incomes Judgement on overdraft charges Personal insolvency rates slowing down Challenge to home information packs Further interest rate rises expected by consumers April 2007 Annual inflation rate continues to rise House price index shows slight fall Homeownership prospects for public sector workers Current accounts in the UK Mortgage equity borrowing Chip and pin security initiative March 2007 Inflation rate rises again Green mortgages all the rage Car loans can help you buy a better car Debt consolidation loans popular Mortgage companies give way to FSA pressure Significant changes in UK home buying The cost of moving house

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Loans secured on your home.

Licensed credit broker authorised by the Office of Fair Trading. Registered members of AFB, FISA, FSA, Data Protection Act 1984

Processing by LL Processing (UK) LTD, Intec 4, Wade Road, Basingstoke RG24 8NE

Home Finance News

BBA worried about negative commentary on PPI

More news