Loan Comparison Sites Good News For Consumers
As more and more people in the UK, across all age groups are starting to use the internet on a regular basis, there has been a dramatic increase in the number of individuals using price comparison web sites to ensure that they are getting the best deal on their purchases, whether they are looking or a home owner loan or mortgage, unsecured loan, credit card or insurance products or even a holiday.
A recent survey conducted by Mintel has shown that an ever increasing percentage of the population is using price comparison sites on a regular basis and as a result there has also been a large increase in the number of sites which offer such services, with some offering comparisons across a wide range of products and services, whilst others are tailored to specific specialist areas such as secured loans.
The head of financial intelligence at Mintel, Toby Clark has been singing the praises of price comparison sites, claiming that they made the often onerous task of shopping around for a particular product extremely easy for individuals who otherwise might just go with the first price or quote they obtained, rather than take time to conduct their own research.
He said “You can get five, ten, twenty quotes just by putting your details into one site and then seeing them side by side.” Using a comparison site also ensures that a potential borrower will get a good deal on a loan, which is the best available for their personal circumstances and needs.
The research has revealed that 39 per cent of people in the UK have used comparison sites to shop for financial products, such as a secured loan, with numbers growing on a day by day basis and around two thirds of these people have also used the internet to search for a cheaper quote for their car insurance.
