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PPI investigation hasn’t halted MPPI sales, says TMA

The Competition Commission’s investigation into PPI has not had a negative effect on MPPI sales, according to a survey by The Mortgage Alliance.

In its general insurance survey the mortgage club found that two thirds of those polled felt regulatory investigations have had no impact on MPPI sales.

The survey, in conjunction with Cardif Pinnacle, found that 64 per cent of brokers had not been effected by the regulatory investigation. A a further 21 per cent felt it partly impacted sales while 15 per cent said it had an overall negative impact.

The same survey also found that 33 per cent of brokers would prefer to paid commission annually in advance, while 23 per cent would prefer monthly payments.

TMA head Phil Whitehouse says the survey helped TMA garner a better understanding of what brokers are looking for.

He says: “A good mortgage club should offer brokers added value in order to help them increase sales/income and, at TMA, we will certainly be looking at elements from this survey to bring a strong proposition to the market that will be of true benefit to our members.”

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