Insurance, commission percentage?
Discussion
Not sure if this should be in Finance rather than business,
Anyway the question is, what commission percentages are considered reasonable for basically PPI added to a commercial loan? (Note this is NZ and misselling of PPI is still rife)
Without going into too many details, 8% was added to the loan (4500 pounds), and the loan company kept 42.5% of this. ie about 2000 pounds never left them.
Personally I think a 42.5% commission is obscene, 10-15% perhaps. 2000 pounds for 10 minutes "work" filling in paperwork isn't reasonable to me.
Anyway the question is, what commission percentages are considered reasonable for basically PPI added to a commercial loan? (Note this is NZ and misselling of PPI is still rife)
Without going into too many details, 8% was added to the loan (4500 pounds), and the loan company kept 42.5% of this. ie about 2000 pounds never left them.
Personally I think a 42.5% commission is obscene, 10-15% perhaps. 2000 pounds for 10 minutes "work" filling in paperwork isn't reasonable to me.
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