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Britons are being charged an “eye-watering tax on being poor” by home and motor insurers a month, according to new research. An investigation conducted by Which? found that some car owners are being slapped with annual percentage rates (APR) of nearly 40 per cent. In comparison, the consumer champion’s analysis discovered some homeowners are paying nearly 35 per cent onmonthly insurance payments. Which? is calling on the Financial Conduct Authority (FCA) to take on action on insurance firms which are charging customers high amounts of interest on monthly repayments. The watchdog asserts this p…

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