Credit crunch tips offered by website
Advice for consumers on how to "beat the credit crunch" has been issued by a financial website.
Advocating a "spring clean" of personal finances, Moneysupermarket.com suggested yesterday that up to £4,000 of savings can be made by some British families.
Switching home loans to more competitive rates when the time comes to remortgage and shopping around for the best unsecured loan deal were both recommended.
Choosing a credit card which has zero per cent on balance transfers and purchases for 12 months, such as the Halifax One, came strongly advised.
Experts at Moneysupermarket.com said that switching from standard gas and electricity tariffs to cheaper options such as npower's SOL10 also saved money.
Exploring the market for better deals on insurance, broadband and mobile phones could potentially complete the four-figure savings.
Head of debt at the website, Tim Moss, said: "A family with a typical financial portfolio has the potential to save well over £4,000 in a year by moving away from uncompetitive products.
"There are many great deals out there, and not just for those with good credit ratings."
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