February 26, 2010
PPI Sales Boost Profit For Sneaky Banks | Better Credit Direct
When credit consumers take out a new financial service such as credit, a loan or new mortgage they are also offered Payment Protection Insurance which protects them if they experience difficulties in paying for the loan by means of unemployment, injury etc. Some consumers choose to purchase this … This kind of scamming has accounted for almost 1bn profit for the UK banks in the last year and with the number of unemployed remaining high this figure is likely to increase. …
Excerpt from:
PPI Sales Boost Profit For Sneaky Banks | Better Credit Direct
Filed under MPPI by on Feb 26th, 2010. 
Comments on PPI Sales Boost Profit For Sneaky Banks | Better Credit Direct
Yes, good point. Remortgage is the new trend. The consequences being: changing from fixed to variable rate, penalties and fees, payment protection insurance, can you make over and under payments, etc. Just like with most things, there is a positive and a negative and you must decide which outweighs the other in your situation.
Although this is a UK site, it gives a good idea of some of the pitfalls of remortgages.
Thanks for the comment!
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I think if you live in the UK and you have a mortgage, you should consider some form of UK mortgage protection like this. As far as I know British insurance offer the best and most affordable policy available today. Unfortunately i was not aware that I didn’t have to go to my mortgage provider to get cover for mortgage payment protection insurance..I think I paid about twice that for my MPPI insurance. Ah well, at least it kept a roof over my head!
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I think if you live in the UK and you have a mortgage, you should consider some form of UK mortgage protection like this. As far as I know British insurance offer the best and most affordable policy available today. Unfortunately i was not aware that I didn’t have to go to my mortgage provider to get cover for mortgage payment protection insurance..I think I paid about twice that for my MPPI insurance. Ah well, at least it kept a roof over my head!