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Savings via mortgages peak via interest rate increase

26/06/2007

Interest rates have been on the up since last year and if you chose the right mortgage deal you could have saved money. The savings available on the average mortgage have rose from £2,832.00 to £3,132.00.

Moneyextra.com manager Robin Amlôt commented, “Getting your mortgage right is the key financial decision in terms of financial efficiency. The potential savings on your mortgage account for almost 70 per cent of the total savings to be made.”

From a different perception, the total annual savings existing by taking over the worst with the finest products across a variety of financial services is £4,477.881. Showing an increase of £150.10 overall via savings over the last 3 months.

There was a drop from £386.76 on personal loans to £279.36. This figure was over 60 months and a value of £9,000, nevertheless under the drop was a reduction of the interest rate distributed between near-worst and near-best deals.

Robin Amlôt commented, “Shopping around for the right savings products can also pay dividends,” with £5,000 in an direct access savings account, the diversity between near worst and near best accounts is £280 in interest – greater than 11 times the £25 being accessible at the foundation of the range.


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