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- Thanks to high-pressure selling, seven out of ten loans are sold with PPI, which is hugely overpriced.
- PPI sounds like valuable protection, doesn't it?
- In fact, nearly a fifth of his final loan was just the accumulation of PPI and the interest on it - an insurance he didn't really need because he doesn't work.
- The cost of PPI is often automatically included in the loan, preventing borrowers from shopping around and securing the cheapest deal.
- The FSA has been putting pressure on banks and loan companies to stop automatically including protection payment insurance (PPI) when customers sign up for new financial products.
- If you're shopping around for a personal loan, as sure as eggs is eggs, you'll be offered payment protection insurance (PPI).