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Internet to change borrowing behaviour of UK consumers, says study - Industry Trend or Event - Brief Article
INTERNET BUSINESS NEWS-(C)1995-2000 M2 COMMUNICATIONS LTD
A new UK survey of consumer borrowing habits has revealed that consumers are not currently shopping around for the best deal when arranging personal finance but this is going to change when borrowers start to use the Internet.
According to the study, which was commissioned by UK-based lending software developer PanCredit and covered 150 Internet users and 150 non-Internet users, 61% of borrowers admitted to taking the first quote they were given when arranging a recent unsecured loan, hire purchase agreement or car-finance agreement. In contrast 81% of the respondents with Internet access intend to shop around on the web for their next personal loan.
With half the non-Internet users getting access to the Internet in the next twelve months more and more customers will be using it as a source of information, becoming much more sophisticated and demanding when sourcing personal finance quotes, PanCredit notes.
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