It’s the New Year, which means it’s the perfect time to review your finances and if you are a homeowner it could mean that you could save up to £5000 by reviewing your financial policies and loans.

Whilst incomes for many have increased little or not at all there has never been a better time to review your finances and bills, wages are not expected to reach pre-crisis levels until 2016. Reviewing your finances today could help you significantly during 2014.

Personal loan rates and credit cards are at an all time low & so it is essential to review all borrowings rates. An unsecured loan of £7500 over 5 yrs can be obtained for 4.8%.

Reviewing Your Insurances is Another Way You Could Save Money

If you have given up smoking since you took out a life Insurance / income protection or Critical illness policy you will still be paying smoker rates. Let us review your insurance policy because if you have not smoked for 12 months you may be entitled to non-smoker rates which could save you up to 30% of the premiums you are paying.

The English Bridge in Shrewsbury JanuaryCar & home insurance premiums have fallen on average so it makes sense to shop around for the best deals. You may save on average £96 on home insurance and £449 on car insurance.

Be careful with Price Comparison sites as these offer initial low rates but by the time you have selected the exact product you want they can work out more expensive.

Change Utilities Suppliers Will Save You Money

Prices for energy has risen recently, many of the big 6 suppliers blaming the governments green levies , switching can save £272 .

Mortgages From 1.89%

The Bank of England has pledged to keep interest rates on hold until unemployment drops below 7% , however they are now looking to review this limit to keep rates low until 2015 at least.

Many home owners are sitting on expensive Standard Variable rates , which they revert to after their fixed / discounted rate comes to an end.

Savings of up to £400p/m can be made by switching , quite often with valuation and legal fees paid for by the lender. Broker exclusive mortgage rates from 1.89% can be obtained.

For further help and advice on your life insurance policy & mortgage contact AFP, mortgage advisers based in Shrewsbury, for a free no obligation chat on 01743 364377.