TheCostOfPPICharges

The cost of PPI charges. According to Citizens Advice Bureau research, money claims can add as much as 56 per cent to a person's repayments. That is a significant amount to be placed on top of monthly bills, particularly as most PPI policies come with a number of exclusions. Credit card companies, for example, make money by charging people for late payments, but also for payment protection fees on top of this. Similarly, with PPI potentially adding more than half to repayments - and mortgages costing the average homeowner over ten per cent of their income, according to the Council of Mortgage Lenders - homeowners could find they have spent vast sums on PPI.