Brokers advised to consider TCF on PPI products

The ICOB review indicates customers purchasing PPI run a significant risk of signing up for poor value for money products. Single premium loan PPI products have received the most criticism since the Office of Fair Trading investigation began in September 2005. Often, the cost of these in-house policies is added to the secured loan and the whole amount then gathers interest, making the PPI far more expensive than it should be. One solution is to offer customers a stand-alone PPI policy, which can provide better value for money. Shane Craig, managing director of Paymentcare.co.uk, an ...