Are you getting the best deal from your bank?
As we have discussed on numerous occasions, the vast majority of the UK public will take all of their financial services from one particular source, i.e. their bank. It seems, despite massive publicity of price comparison sites, that the vast majority of people are still happy to keep their financial affairs under one roof even if ultimately they are losing out. So why do people do this?
The UK banking sector, and many other areas of corporate UK, rely upon "lazy" consumers who are not overly concerned with looking for the best deal and often use the same parties they have used in the past. Many people do not even take the time to look around and see what's on offer and this is something which has handed the UK banking industry, among others, literally billions upon billions of pounds of profits which ultimately should not be there.
The vast majority of us will complain when money is tight but how many of us will actually make a move and trying cut back on our insurance, increase our deposit interest rates, fix our mortgage agreements and ultimately shave more money from other financial expenses?
It has never been easier to change mortgages, to change loans, to move banks and ultimately use different parties for different services, so why do we not do it?
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