UK Money News
9th Januaryr 2008
Financial product buyers 'should read small print'
Consumers purchasing a new personal finance product often look at the headline figures but not at the small print, one industry commentator has observed.
Independent personal finance advice firm Ashley Law states that many consumers risk needing help with money or get into trouble with debt because they do not take the time to investigate all details of such arrangements.
The firm adds that the cheapest option is not always the most favourable one - a fact missed by many who do not study products in detail.
Jock Cassidy, director of Ashley Law Limited, said: "People don't take the time to read the small print and ... I doubt very much if they do because it's not exactly the most interesting read, then they'll go for the cheapest option."
He added that while each individual's circumstances were different, cost was often a deciding factor in changing between personal finance products.
In related finance news, Unbiased.co.uk has stated that "record numbers" of people are seeking out the help with money offered by independent financial advisors.
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