Competition Commission investigates home credit by Finance News Bulletin

Published: 25/05/07

Although the majority of consumers find home praise loans satisfactory, the rivalry Commission (CC) has found that consumers are paying a "far above the ground price" for the serviceThe CC has launched an inquiry into the home credit market and its initial answer indicate that there may be a be short of of sufficient competition in the market, leading to high prices for consumershouse credit refers to the door-to-door loan repair which offers small loans to customers and collects the repayments weekly or fortnightly from the customer's homeIt is often a convenient loan ability for people on low incomes or who have complexity getting other forms of credit

Peter Freeman, acting chairman of the CC, supposed: "The home credit industry seems to us to give a service which meets its customer's requirements Various factors, however, come into view to point towards a lack of effectual competition which may mean home credit customers pay more than they should"No conclusions have been reached on the question of effective rivalry in the home credit marketplace and the CC investigation is ongoingMoneyExpert Limited is authorised and keeping pace by the Financial Services Authority (FSA Registration No

301654) The Financial Services power does not regulate some forms of mortgage agreement, credit cards, personal loans,

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