February 20, 2010
PPI Sales Boost Profit For Sneaky Banks | Mortgage Refinancing Loan
Major high street Banks and other financial service providers have recently offered a product called Payment Protection Insurance (PPI) to cover the consumer against the unforeseen lack in ability to repay a loan agreement. … 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. It has reportedly affected over 8000 families in the UK in 2009. …
See the article here:
PPI Sales Boost Profit For Sneaky Banks | Mortgage Refinancing Loan
Filed under MPPI by on Feb 20th, 2010. 
Comments on PPI Sales Boost Profit For Sneaky Banks | Mortgage Refinancing Loan
Just on a different point. Secured borrowing on property can lead, it now seems, lead to finding you have been mis sold mortgages.
I read earlier this year that a lady who borrowed less than 10k with her home as security lost her job, was told that the payment protection insurance could not payout because of implications to do with her partner (the main bread winner).
The solicitor she contacted found traces of severe professional negligence and ended up making a claim against bother the mortgage broker and lender for wrongfully giving her a self cert mortgage.
This is just one example of why credit is, as you put it, “so hard to come by”.
Albert,
Are you coming to Guam for the fraud trial re: your film MAX HAVOC: CURSE OF THE DRAGON? 4/5/11 is the date in Guam Superior Court.
You promised everyone on the island a lot if our government would co-sign a loan agreement for you and your producer. We did and you didn't deliver on your end of the deal, hence a fraud trial.
We would really love to see you here.
RT Who runs social at the world’s largest companies? < Pretty light on UK Banks….
EU banks hoarding liquidity cash instead of lending < Yep, just like UK banks who still gave out bonuses