'You reap what you sow' say moneysupermarket.com on CC proposals
Commenting on the Competition Commission's findings into PPI, Stuart Glendinning, managing director of price comparison site, moneysupermarket.com, said: “You reap what you sow. The prospect of preventing lenders selling PPI at the point of sale is an immense industry change which will, in effect, slash sales of PPI. For years lenders have relied on pushy selling tactics of overpriced PPI cover.
"However, it is important for people to understand the product they are buying and the level of protection it will offer them. Data from the Competition Commission shows that between 10 and 20% of people using a price comparison website to find a personal loan will choose PPI. This compares with a 40% take up of PPI when people buy a loan direct from a provider, highlighting that PPI is rarely “chosen”, but “sold”.
“In addition to the sales falling we can expect the price of PPI to diminish as
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