Released on = June 7, 2007, 4:45 am

Press Release Author = Bernard Ethen

Industry = Financial

Press Release Summary = Recent study suggests that UK borrowers go in for
convenience when it comes to borrowing money.

Press Release Body = 5th June, 2007: A new study by a leading bank shows that many
consumers are willing to choose convenience over value when it comes to borrowing
credit in any form. Figures point towards a fact that more than half of all
borrowers in the UK have been privy to store cards because of the convenience
associated with it. And, this is no case of ignorance - borrowers know about the
expensive repayment fees associated with store cards.

And that's not all; more than 40% of the UK credit consumers have agreed to the
forecourt finance deal in the event of buying a car only because of the convenience
that it offers.

Financial experts say that this research throws a light on the spending pattern of
the borrowers most of whom are too busy to cut rounds of banks or other lenders. In
most cases, the consumers do not think before signing up for these types of credit.
A bit of careful thought would probably go a long way in helping them save a couple
of hundred pounds.

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