‘Greedy’ cashing in with mortgage payment protection insurance cover
FINANCIAL ADVISER - 18TH DECEMBER 2003
Lenders are continuing to overcharge for mortgage payment protection insurance cover, according to a report published this month. Burgesses the independent payment protection insurance specialist carried out mystery shopper studies and found that major lenders charge more than double the amount charged by independent providers. Simon Burgess, managing director of Burgesses, said: “Greedy lenders are claiming back billions of pounds by charging huge premiums for mortgage payment protection insurance cover.”
