- 20
- Mar
Britons are increasingly adept at managing their borrowing, according to an industry expert.
Consumer affairs manager for Experian, James Jones claimed: "The vast majority of people in the UK use credit really wisely and benefit from the advantages it brings."
He added that a rising number of consumers are looking to check their credit report not only if they have been refused a personal loan in the past but also if they are wishing to apply for a mortgage or are concerned about ID fraud.
Mr Jones claimed this was a "very healthy trend", as it showed consumers’ increasing awareness of the need to be able to make loan repayments.
According to research by Scottish Widows, one in five consumers see their mothers as their financial "role model" as they provide the best advice on areas such as savings and secured loans.
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