Spread your financial requirements between different providers
One of the many issues which are associated with the banking sector of "olden days" is the fact that many people were more than happy to leave their money with their bank, take loans from the bank, take credit cards from their bank and also organise their insurance through their bank. In effect the high street banks of the UK had the situation stitched up with commissions coming from all angles and direct profits falling in their laps.
Many people will be astounded to learn that there are still people who organise all of the financial services via their bank or associates of their bank. Would you go to a plumber to fix your electic? Would you go to a bricklayer to do your garden?
If you're looking to insurance then go to an insurance broker, if you prefer credit cards then look online for the best deals, if you are looking for loan or a mortgage and find the best deals on the Internet then see if your bank and match them. If your bank is unable to match the best deals around then you need to look elsewhere for those particular services.
Retaining all of your financial requirements with one institution is money for nothing in the UK banking sector and should not be happening in this day of Internet and easy accessibility to various comparison websites.
Share this..
Related stories
Is the UK on the verge of another endowment policy crisis?
In what is sure to be an area of concern in the future for many homeowners in the UK, it has been revealed that up to 99% of endowment policies sold by some UK insurance companies may ultimately fall short of their intended target. Many people use these to pay off their homes after covering interest directly over the mortgage period and paying additional sums into their endowment fund.
Will the last investor to leave Dubai please switch off the lights!
As the Dubai crisis continues to worsen over the weekend, with news that the Abu Dhabi authorities are not willing to become involved in a wholesale bailout, there is concern for the short to medium term outlook. It looks as though the Abu Dhabi authorities will "cherry pick" the best assets from Dubai and offer financial assistance to gain control of these particular investments. So what happens...
Read MoreFat folk pay more premiums
Obese people may find that they are unable to purchase full life insurance policies or could find that their premiums are raised, according to the Association of British Insurers (ABI).Although losing weight could reduce premiums in the long-term, serious obesity, which constituted a massive health risk, if undisclosed at the point of application could lead to refusal when people attempt to make a...
Read MoreShareholders vent fury at Lloyd Bank
Yesterday's Lloyds bank shareholder meeting was a volatile affair with many private and institutional investors flagging their concerns about the secret £26 billion loan from the UK government. Even though the £13.5 billion rights issue was voted through by shareholders there is still a concern at the way in which the operation has been run over the last 12 months. Lloyds bank was for many ye...
Read MoreMortgage arrangements up but net lending down
In a surprising change of direction for the UK economy July saw an unexpected increase in mortgage arrangements and consumer lending although net lending was down on the month. Total net lending in the UK with just £86 million in July against a figure of £518 million in June highlighting the fact that more and more people in the UK are trying to repay debt ahead of what could be a further diffic...
Read More