Money News

Shop around to beat the credit crunch

Thursday, 3rd April 2008

According to Your Home Bills.com, the total annual savings available by replacing near-worst with near-best products across a range of financial services is up £370 on in the previous quarter, to over £4.5k.
Despite a shrinking mortgage market finding the best mortgage continues to pay the biggest rewards, with potential savings of £3k, putting up to £144 a year back in your wallet or purse.

The annual savings available on a personal loan of £9,000 over 60 months have risen to £476.88, up from £269.88 three months ago. The rates on the very best loans are fractionally higher, while rates on offer at the lower end of the market have risen by several percentage points.

In other financial products, Your Home Bills figures also show an increase in potential savings rising over a year. Geoff Pestell of Your Home Bills comments, "For those looking for a really interesting savings account, the difference between near-worst and near-best returns on £5,000 in an instant access savings account is now £300 a year. In fact, choosing the right savings account means you'd be getting thirteen times more interest!"