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AMI calls for MPPI to be excluded in PPI investigation

The Association of Mortgage Intermediaries is calling on the Competition Commission for a second time to exclude mortgage payment protection insurance from its investigation.

AMI director general Chris Cummings says MPPI should be excluded from the inquiry due to “the robust and principally advised sales process from which consumers benefit”.

Cummings says: “MPPI is very different to other forms of PPI under investigation, such as credit cards or unsecured personal loans. We again urge the Competition Commission not to take a one size fits all approach to their investigation.

“We also call again for the Commission to acknowledge and understand the benefits to consumers of using intermediaries who act as agents of the client.”


Workshop snapshot

Advisers and mortgage brokers looking to diversify revenue streams were given a helping hand at Aegon’s protection workshop in London last week.

Assureweb reveals £3.1m loss

Financial services portal Assureweb made a loss of £3.16m for the last financial year after a £4.6m loss the previous year.

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