Consolidating loans may not be cheapest at banks, says moneymaxim.co.uk exec
www.moneynews.co.uk > Loans > Consolidating loans may not be cheapest at banks, says moneymaxim.co.uk exec
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Consolidating loans may not be cheapest at banks, says moneymaxim.co.uk exec
Tue 21st Sep 2010
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Mark Bower suggested supermarkets can be a great place to find good deals currently, with many such providers offering some "attractive" rates.
In his opinion, having a good relationship with a local bank manager is no longer enough to guarantee that a person will receive the most suitable and competitive arrangement.
Mr Bower urged people to check online to see what other companies are offering before signing up for a loan.
He said: "If ... a customer feels they are paying over the odds they can always look to move their loan to a more competitive lender."
These remarks follow the publication of data by the Bank of England showing the range of rates available from different lenders has got wider in recent years.
Click here for more loans news
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