| Taking the time to find the most
| |
| | savings account, consumers could earn 280
|
| competitive financial products including
| |
| | pounds if they choose the best deal,
|
| personal loans available could save
| |
| | compared to the 25 pounds being offered
|
| consumers thousands of pounds, it has
| |
| | by the most uncompetitive supplier.
|
| been revealed.
| |
| | Choosing a leading cash individual
|
| According to research carried out by
| |
| | savings account was reported to earn
|
| Moneyextra, choosing the right mortgage
| |
| | consumers some 62 pounds and 70 pence
|
| can save up to 3,132 pounds, a figure
| |
| | more in interest.
|
| which could help many homeowners pay off
| |
| | "Shopping around for the right savings
|
| secured loans quicker.
| |
| | products can also pay dividends," Mr
|
| Senior editor Robin Amlot said: "Getting
| |
| | Amlot added.
|
| your mortgage right is the key financial
| |
| | The findings also revealed that picking a
|
| decision in terms of financial
| |
| | competitive current account could
|
| efficiency.
| |
| | generate an extra 64 pounds, with the
|
| "The potential savings on your mortgage
| |
| | right term assurance policy potentially
|
| account for almost 70 per cent of the
| |
| | saving up to 135 pounds every year.
|
| total savings to be made."
| |
| | Earlier this week, it was suggested that
|
| These findings from Moneyextra come
| |
| | those homeowners wishing to fix their
|
| despite mortgage rates rising over the
| |
| | monthly secured loan repayments should
|
| last three months, which consequently has
| |
| | look to act as soon as possible.
|
| seen more homeowners struggle to make
| |
| | According to moneysupermarket, a number
|
| mortgage repayments.
| |
| | of lenders are beginning to increase
|
| Overall, the financial services firm
| |
| | interest rates on their fixed-rate
|
| indicated that by replacing some of the
| |
| | products, following the Bank of England's
|
| worst financial products available for
| |
| | monetary policy committee (MPC) decision
|
| more competitively-priced deals, Britons
| |
| | to raise the base rate to 5.5 per cent
|
| could save a total of 4,477 pounds - an
| |
| | last month.
|
| increase of 150 pounds from the same
| |
| | Head of mortgages Louise Cuming said:
|
| survey carried out available three months
| |
| | "Borrowers needing the stability of a
|
| ago.
| |
| | fixed-rate product should reserve their
|
| However, the study indicated that savings
| |
| | next deal now if their current mortgage
|
| rates on personal loans have fallen since
| |
| | term is set to end soon."
|
| March.
| |
| | She added that although fixed-rate
|
| For a 9,000 pounds loan taken out over a
| |
| | products "have been looking pretty good",
|
| 60-month period the highest savings on
| |
| | the moneysupermarket representative
|
| offer was 279 pounds a year down from the
| |
| | warned that "they appear to be going up -
|
| previous survey which indicated a peak
| |
| | and fast".
|
| saving of 386 pounds.
| |
| | The expert also pointed out that as
|
| The fall was attributed to a "narrowing"
| |
| | lenders continue to increase the costs of
|
| of interest rates from the best and worst
| |
| | fixed-rate deals, the financial industry
|
| products, while rates on personal loans
| |
| | has predicted that the MPC is likely to
|
| in general are said to remain "highly
| |
| | increase interest rates when it holds its
|
| competitive".
| |
| | next monthly meeting - which is scheduled
|
| Meanwhile, the financial services firm
| |
| | to take place on July 5th - a move which
|
| also revealed that for those looking to
| |
| | could well further pressurise consumers
|
| put 5,000 pounds into an instant access
| |
| | into making repayments on secured loans.
|
