Better Deals With Financial Flexibility

Investors could be missing out on the best deal for their money because they are inflexible with their choice of financial provider, according to new research.

Consumers quizzed by mortgage provider Alliance & Leicester revealed they were more likely to change their local pub than their bank.

Nearly three-quarters of people will vary where they sit when travelling to work on public transport, 85 per cent will choose something less familiar from the menu when they dine out, but only 15 per cent of people regularly search for a better deal for their finances.

Over a quarter of people (27 per cent) like their payments to be fixed every month and a third (36 per cent) are not even aware that financial products can be flexible.

"Research suggests that whilst people are adventurous in their day-to-day lives, it is interesting that this doesn't follow through to their finances – this could ultimately mean they are losing out on the savings that could be made by shopping around for the best deals," said Stephen Leonard, director of mortgages at Alliance & Leicester.

"It's a good idea for people to consider being more flexible by reviewing their finances regularly rather than getting stuck in a financial rut."