Lazy Brits miss our on best deals
(11/10/2004)
British homeowners are wasting ?35 billion a year by not shopping around for the best deals on mortgages, credit cards and unsecured personal loans, according to a survey.
The annual saving is equivalent to a person on an average yearly salary receiving a 16% pay rise.
The survey found that the biggest savings are on mortgages. Re-mortgaging with a cheaper provider could save the average mortgage holder ?2,182 a year. This represents a nation-wide saving of ?25 billion a year
On credit cards, cardholders could save ?536 in interest on the average debt of ?3,000, a collective saving of ?9.5 billion. A ?2.5 billion saving could also be made on unsecured personal loans.
You may request further information on re-mortgaging your UK property to release equity or reduce your interest repayments by completing our online Information Request Form.
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