Customers want more credit advice
UK consumers feel they need more assistance in tracking down the best deals on credit.
Research from finance experts MoneyExpert.com and Defaqto reveals that 12 per cent of Brits find loans confusing and 13 per cent said they had problems understanding credit cards.
While the products show a higher level of accessibility than mortgages –which 20 per cent claim to find extremely taxing – financial experts said consumers needed access to the most effective forms of information.
David Elms, chief executive for IFA Promotion, commented: 'The scope for confusion with financial products has grown significantly,' adding 'there are a number of areas that need to be explained.'
He advised: 'The internet is a good place for consumers to start looking and to get some initial information.'
With around half of the UK population having savings of £600 or less, the need to be aware of the best buys on credit cards and loans has never been greater.
By looking online, consumers can equip themselves to make the best-informed choices. | 
