While some changes for the better have been seen since the FSA`s investigation into the loan cover and payment protection sector - fines were handed out after the latest investigation by way of mystery shoppers - there is still a long way to go yet. One of the biggest problems is the lack of information given regarding the product such as the exclusions and how much the cover would cost over the lifetime of the loan. The Financial Services Authority some well known financial organisations are going to receive personal fines if they continue not to have the consumer's best interests at heart.
For now the safest way to buy loan cover is with a standalone provider of loan cover. Not only will you get some of the cheapest premiums but also the information you need to make sure that a policy is suitable for your needs.
