Post Office PPI could be cheaper by Finance News Bulletin

Published: 30/01/07

Customers could be in line to create big savings if they button their payment protection insurance (PPI) to the Post OfficeAccording to the Post Office, shopping around for a better contract is in the best interests of the consumer, as at there, some providers of PPI add the cost of the product to the price of the loan which means that the individual is paying interest on bothThe Post Office has said that it would like to see more people challenging this to find out what the cost of purchasing PPI and a loan separately would be as it has found that some consumers could be missing out on savings of around £1,500Post Office head of infrastructure Claire Oldstein remarked: "People with a protected loan should call their lender and inquire what they might receive if they cancelled their payment protection but kept the loan

There is no need to employ a third party, which will generally claim a percentage of the repayment"Following the recent investigation carried out by the Office of Fair Trading into the PPI industry, the position Office responded by voicing its desire to see an unlock marketplace so customers know what deals are out there on

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