Consumers unaware of loaded loans
The Datamonitor UK Personal Lending 2000 report has highlighted that lenders are charging over a thir...
The Datamonitor UK Personal Lending 2000 report has highlighted that lenders are charging over a third of the total cost of a loan for payment protection insurance. The report discovered that this insurance costs an additional £916.70 on a £5 000 loan over a three-year period. This adds an average of 15% onto the amount of the loan.Although consumers are tending to shop around to a greater extent, many are still unaware of the costs of taking out this type of insurance, because the cost of
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