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Moneyfacts reveals results of bank consumer survey has revealed the results of its latest online user survey.

The August poll highlights that when visiting their bank branch 53% of consumers find that bank staff try to sell them more financial products.

85% of consumers think charges imposed on late payment of credit card bills are excessive.

Only 27% of consumers think house prices will fall significantly over the next few years.

Emma Butler, editor, says: In some cases where a bank is trying to sell additional products to a customer they can be acting in that customers interest.

“For instance, if they could earn more interest by switching savings accounts or reduce monthly payments by changing their mortgage.

“However, consumers do need to act with caution as often these bank staff have sales targets.

“It could be the case that by shopping around with other product providers, even more money could be saved or a higher amount of interest earned.


Ansar partners property purchasers

Ansar Housing has revealed the development of its Property Purchase Agreement, a form of contract that is free of interest and that accords with Islamic principles of contract law.Under the Property Purchase Agreement, Ansar and the client will form a partnership under which both parties jointly purchase a property. The home-buying client will then rent […]

SPML celebrates its 4bn pizza the action

Southern Pacific Mortgage Limited recently celebrated in style with a pizza lunch as it reached the milestone of 4bn of assets under administration. The figure was made up of just under 57,000 mortgage accounts, with most these assets administered for SPML’s previous securitisations and another 584m being serviced for third parties. Loan servicing takes place […]

Legal & General adds products to online protection

Legal & General has continued to develop its e-business service with the expansion of its protection and general insurance products on its integrated quote and apply system, Online Protection. The product suite now includes the following products: * Family and Personal Income Plan, the family protection product with a monthly benefit.*Mortgage Payment Protection Insurance, providing […]

Sturges joins Money Partners

Specialist lender Money Partners has appointed Bob Sturges as director of communications.Sturges joins the senior management team and reports directly to Colin Sanders, CEO.Sturges has oversight of all communications activity at Money Partners including media, corporate and public relations and internal organisation communications. He will also work closely with sales & marketing director, Adam Henry, […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]


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