Consumers urged to shop around for best deals

Mortgage customers can still save money by shopping around despite a range of products becoming more expensive, one firm says.

Moneyextra.com has conducted a review which shows the annual savings available by replacing near-worst with near-best products across a range of financial services is now £3,363.84.

The firm said this is £1,231 less than the savings customers could have made in the first three months of 2008.

Moneyextra.com spokesman Robin Amlot said: "Mortgages aren''t cheap and lenders aren''t fighting for our custom in the way they used to but you could still save yourself almost £2,000 a year."

The company added potential savings on credit cards have been squeezed by renewed competition between issuers fighting each other for profitable customers.

Earlier this week Reuters said figures from Standard and Poor''s showed delinquencies on prime and non-conforming UK mortgages and on credit cards are increasing amid tighter lending and a weaker economy.

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