Which? sounds the alarm again on “eye-watering” motor and home insurance interest rates
Research by Which? has revealed the average annual percentage rate for motor insurance on monthly premium finance at 22% and 20% for home policies.
However, the consumer champions noted some consumers were being charged more than double this level.
In August, Which? surveyed 49 car insurance firms and 48 home insurance firms to find out the charges.
This is not the first time Which? has sounded the alarm over eye-watering levels of interest, yet excessively high rates persist.
It calculated the averages from the responses however not all providers responded.
The investigation continued with a mystery shopping exercise on those that did not
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