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Tuesday 12th February 2008
Consumers considering opening a new savings account should look for the products which receive consistently high ratings on price comparison sites, one of the UK's largest lenders has advised.
Financial experts and independent financial advisors frequently endorse using a price comparison site, such as Moneysupermarket.com and MoneyExpert.com, as a quick and effective way to asses a range of products.
However, for the most rounded picture, the best option is to use a range of sites and opt for the products which garner best-buy ratings across the board, Jason Clarke, a spokesman for Halifax said.
He explained: "Use several different sites as all of them have strengths and weaknesses of how they compare products.
"Look for consistency across all of the different sites; if something is coming up in the top three across all of them then the chances are that it's a decent product".
Mr Clarke added that thoroughly researching products in this way is especially relevant given the impact that uncertainty in the financial markets is having on interest rates offered by account providers.
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