PPI Refund 4 Me: Confusion Over MPPI and PPI as Consumers Remain Nervous - Call Free 0800 044 5196

July 4, 2012 - PRLog -- Lenders are becoming increasingly aware of how much damage the PPI mis-selling scandal has affected consumer confidence, after several lenders pulled out of the Mortgage Payment Protection Insurance market (MPPI) - and more are reporting that homebuyers are shying away from MPPI.

Santander stopped offering MPPI in January this year in response to more regulation on sales. One of the main high street banks which topped up its PPI refunds pot recently - Lloyds - ceased to sell MPPI in 2010.

Get PPI Refund advice at http://www.ppirefund4me.co.uk

MPPI Facts

•    MPPI offers cover to mortgagees if they lose their jobs or become ill - MPPI covers mortgage payments for a period of time, usually one year

•    Around 2 million homeowners are thought to have MPPI

•    Before the economic downturn kicked in, 28% of MMPI premiums were paid out on claims, according to the Competition Commission

•    Yorkshire Building Society paid out GBP2m in MMPI claims in 2011 - 35% of premiums

•    Many firms have been criticised for increasing MPPI premiums during the recession - so far GBP60m has also been paid back on MPPI premiums

•    Lenders still offering MPPI are concerned that homebuyers may decline the policies altogether in the wake of the PPI mis-selling scandal.

Earlier in May Lloyds added another GBP300m to its PPI refund pot, taking it from GBP3.2bn to GBP3.5bn -- one of the largest PPI compensation funds set up.

Just how much damage the PPI mis-selling scandal has caused to the financial sector continues to emerge, as consumers become jittery about signing up to other payment protection schemes.

The financial sector has reached a critical point for restoring consumer confidence.

PPI Refund 4 Me has helped thousands of consumers to get back their PPI payments and last November won GBP350,000 in refunds and compensation for its clients.

PPI Refund 4 Me endeavours to offer the best possible PPI claims service to its customers - and has helped thousands of consumers obtain a refund for mis-sold PPI.

About PPI Refund 4 Me

PPI Refund 4 Me is regulated by the Ministry of Justice and appoints a dedicated account manager to each of its customers whom they can speak to whenever they call.

PPI Refund 4 Me does not believe in cold calling, sending unsolicited emails to potential clients or misleading consumers over our fees or the chances of receiving a disproportional settlement for any PPI claim they make.

PPI Refund 4 Me is always transparent about its fees and nothing is paid until a settlement with the financial institution has been agreed.

PPI Refund 4 Me offers a PPI claim service on a No win No fee basis to customers, most of whom discover our services by word-of-mouth or recommendation.

Contact:

PPI Refund 4 Me
201-204 Murdoch Chambers
153A Corporation Street
Birmingham B4 6PH
Tel: 0121 2364843 (0800 044 5196)