BORROWERS arranging loans online stand to save considerable sums of money now that payment protection insurance(PPI) will no longer be sold to them automatically, according to independent PPI provider Paymentcare.co.uk

Commenting on today’s announcement by the Financial Services Authority* that major lenders have agreed to change the way they sell PPI online, Shane Craig, managing director of Paymentcare.co.uk, said:

“This is excellent news for consumers and yet another step in the right direction towards ensuring they receive the fair treatment they expect and deserve.

“Resisting the powerful profit-driven force of the big firms is a tough job but the tide is now beginning to turn in favour of the consumer.

“It’s still quite some time before the Competition Commission brings its enquiry to a close so this move will go a long way towards ensuring customers only buy what they want and what they can afford.

“It’s also a very positive move for the image and reputation of the industry and will help to ensure that the people who really want protection will no longer be scared off.”


http://www.fsa.gov.uk/pages/Library/Communication/PR/2007/084.shtml