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Business
Payment Protection Insurance (PPI) provides cover in the event of all sorts of things like, accidents, redundancy or illness for secured loan repayments. The Insurance business providing cover will normally make repayments against the loan for a period of either twelve or twenty-four months.
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A loan secured on property will only be provided once you have put up your home as security against the repayments, it is important that you seriously consider both the additional cost of taking out insurance cover and, indeed, whether actually take it out in the first place. This document highlights how PPI operates in the secured loans market and will hopefully give you a little help in the decision making process.
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