When did you last compare the market?
While we see the adverts on television each and every night, how many of us actually compare the market before we buy our insurance, deposit our savings and take out our mortgages?
The reality of life in the UK today is that despite the Internet and other information services available, the vast majority of people still do not compare the various offers with regards to insurance, savings and mortgages for example, preferring to stay with their long-term bank. As we have mentioned on numerous occasions, no one financial company will be at the top of the league for every financial instruments and financial service available so you really do need to shop around for the best deals.
For those who are concerned about additional paperwork, this is not an issue any more, with the vast majority of online services allowing you to actually apply online. There are many excuses which consumers in the UK will come up with to stop them changing bank, changing mortgage provider and changing insurance company. However, when you really sit down and study the situation in close detail, who is actually losing out?
The truth is that it is the UK consumer who is on the wrong side of the equation with the UK banking sector often squeezing out more profitability than they should be able to.
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