Switch to save, consumers told

Mon, 04 Feb 2008

The average UK household could save up to £547 a year by switching the five most common financial products to the best deal on the market, according to one expert.

Sean Gardener, chief executive of MoneyExpert.com, said that the saving could be achieved if people spent some time looking into if they were on the best available deal for home insurance, car insurance, mortgages, personal loans and credit cards .

He said: "With everyone coming under increasing financial pressure from rising bills it makes sense to find every possible way to cut costs."

The biggest savings were on personal loans, followed by car insurance and then mortgages.

In January, Lisa Taylor of Moneyfacts.co.uk, said that people should look to sort their finances out if they had embarked on a Christmas spending spree.

She also suggested that people could save on car insurance, home insurance and personal loans by shopping around.
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