Good news folks, the Competition Commission has finally grown a set and banned "fear-based" PPI selling: from 2010, lenders will be banned from selling Payment Protection Insurance (PPI) within a week of loans or credit cards.
Plus 'single premium' PPI, where its cost is added to the loan, accruing thousands in interest, will be completely banned.
So, if you're in the market for a loan, and you have that nasty habit of stumping up for the PPI: DON'T. Sadly you'll have to tolerate the big sell until then. Oh and watch our for Alliance and Leicester, they're notorious for their PPI hard sell.
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