PPI inquiry fails to recognise role of intermediaries - AMI

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The Association of Mortgage Intermediaries (AMI) says it is 'disappointed' the Competition Commission has failed to make a distinction between direct and advised loan sales in its PPI inquiry .

AMI says the Commission should have treated the channels differently, as under the proposed rules intermediaries who agree a loan will not be able to market PPI to their client for seven days. The Comission's report, which suggests delaying the time when a customer arranged a loan to when they can be sold PPI will increase competition and provide better prices and products for consumers. However, AMI says the report has not recognised the separate role intermediaries play in arranging loans and insurance. "AMI is disappointed that the Commission has not recognised the differences in t...

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