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Tied products set to unravel

Sunday 28 March 2010 - by Helena Walsh

Friend says there is support for the Commission to look carefully at why this practice exists and ensure transparency in all transactions.

He says: “Forced sales whereby consumers are hooked in must be stopped as often rates are not the best in the market. The merit which underpins the above is simple for the Commission.”

It is clear from the Commission’s investigation that the driving objective is to improve product and price offerings to consumers. At the other end of the spectrum the Commission through its consultation is seeking the participation of lenders and product providers in order to look at fair ways of attracting and retaining consumers.

Commission Consultation closes 14 April. To comment go to: link



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READERS' COMMENTS
2010-04-01 17:17:18 | Mike Fitzgerald
I wish the European commission luck in trying to stop banks selling bundled products.The practice of selling a cheap 2-year mortgage deal tied together with insurances is in most cases confusing and many cases very uncompetitive. The consumer is losing out and the increasing lack of choice offerred by bundled products must be halted.
Many clients are better off by having separate products individually prepared to suit their needs.

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