Press Release

Paymentshield expresses disappointment with OFT review into PPI

Graham Boulger, Group Commercial Director, Paymentshield says: "We are disappointed that the PPI investigation has failed to pick up the way that the vast majority of the mortgage intermediary market works in selling regular premium MPPI. The investigation draws no distinction between the way that single premium PPI is sold on loans and the way that MPPI is advised and sold on mortgages.

"It is really disappointing for trusted mortgage advisers who give their clients good advice and shop around for the best policies when they are selling MPPI. We welcome the fact that this is being referred to the Competition Commission who will hopefully be able to see that mortgage advisers behave entirely differently than the PPI distributors in offering value and choice for consumers in a competitive marketplace."

Graham Boulger is available for comment.

-ENDS-

Notes to Editor:

Paymentshield Limited is the largest independent supplier of general insurance products to the mortgage intermediary sector with current new business levels consistently exceeding 30,000 policies a month. Paymentshield only sells through intermediaries and over 27,000 intermediaries have chosen Paymentshield.

For all further enquiries, please contact:

Fiona Kitchin
Head of Marketing
Tel - 0870 351 5878
Mobile - 07989 960 166
E-mail - fiona.kitchin@paymentshield.co.uk

Inez de Koning / Anna Schirmer
Lansons Communications
Tel - 0207 294 3623 / 0207 294 3605
E-mail - inezd@lansons.com / annas@lansons.com