Comparison sites may not help debtors, research shows

Comparison sites have been highlighted as providing a poor service for those searching for financial products, a new survey has revealed.

According to Which? Money, average customer scores for such web pages are lower than any other financial sector the watchdog has reviewed, with no site achieving more than 50 per cent.

This is due in part to a lack of trust in such businesses, with only three in ten believing them to be able to locate the best prices.

Those in debt may also be hampered by high default voluntary excesses set by sites, which, when combined with the insurer’s compulsory excess on results pages, makes it harder for customers to compare the findings and find the best policies.

Editor of Which? Money James Daley recommended that people visit more than one comparison company when looking for financial services.

This comes after a moneysupermarket.com study indicated that Britons are choosing to wear more clothes instead of turning their heating on over the winter months, with 18 per cent stating this is because they cannot afford to pay fuel bills.

By Sarah Adie