The party is over for single premium PPI, says Which?

As the Financial Services Authority (FSA) announces that five leading firms are pulling out of the single premium PPI market for unsecured personal loans, Louise Hanson, head of campaigns at Which?, says: "These firms have recognised that the party is over for single premium PPI and the rest should follow suit. It is a fundamentally bad product and should be withdrawn from the market altogether.

"People need to protect their finances more than ever so providers should be developing products that meet consumers' needs and offer value for money.

"PPI has been widely mis-sold in the past so anyone with a personal loan should check if they have a single premium policy as they could claim their money back."

For more information on how to make a complaint and begin the process of claiming back your PPI, visit which.co.uk/ppi