Under-fire PPI providers' costs climbing

Research from money search engine Moneyfacts found four big-name providers, including Lloyds TSB and LV=, have all recently increased their PPI costs. Based on a loan of £5,000 over 36 months, Moneyfacts says there have been monthly increases of at least £5, and as much as £10, which, over three years, can run into several hundreds of pounds. Michelle Slade, personal finance analyst at Moneyfacts, says: “With PPI being seen as an ‘overpriced, inflexible’ product, you may have thought lenders would be reluctant to rock the boat further. “However, for many providers, the price has continue...