Secured loans don't have to come with PPI, says expert


Buying payment protection insurance (PPI) does not necessarily have to be purchased alongside loans or mortgages, an expert in the sector said this week.

Lucy Widenka is a personal finance campaigner at Which? and suggested that rather than purchasing PPI straightaway, consumers may benefit by seeking more advice on the topic.

Protecting all of one's finances rather than just one debt is often something worth considering, she added.

"Consumers should not to feel obliged to take out any insurance alongside another financial product until they have sought independent advice about what they need," Ms Widenka explained.

A study conducted last September by the Financial Standards Authority discovered that some areas of PPI sales needed improvement.

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