Expert advice: choice is good for loan-seekers
The British Bankers Association (BBA) has urged consumers not to be fazed by the extent of competition in the market for loans and other forms of credit provision, emphasising that the aim is not to confuse.
Brian Capon, spokesman for the BBA, appealed to Britons: 'Don't lose site of the fact that competition is a good thing', arguing that if customers were prepared to make the extra effort shopping around, they would be the beneficiaries.
'There are huge numbers of players in the financial services market and each one will position a product to meet a target customer,' he claimed.
Mr Capon gave a reminder that 'different people have different needs and these can change even in a year'.
The reason for the range of choice therefore comes down to a new stress on getting products tailored as closely as possible to personal circumstances.
By looking online, consumers can find the clearest insights into the products best suited towards their own financial situation. | 
