The Irish Financial Services Regulatory Authority has published a new Independent Consumer Guide to Personal Loans and Credit.
The guide is written in plain English and provides practical, straightforward information, designed to assist consumers in choosing the right type of loan for their needs.
Recent research carried out by IFSRA showed that only 50% of consumers shop around for the best loan rate. It said that while many borrowers focus on the monthly repayment amount when making a loan decision, they should look at the total cost of credit as the most accurate way of comparing the total costs of one loan with another.
The new ISFRA guide has information for both new and regular borrowers and covers a range of lending products, for short, medium or long term needs.
