Does Loyalty to Banks Pay?

Does Loyalty to Banks Pay

Does Loyalty to Banks Pay?

Banks are very keen these days to promote the concept of “loyalty”. A recent development has been the launch of lower rates for customers with existing bank accounts. Funnily enough though, normally a “loyalty deal” can be beaten by just shopping around the mortgage market.

Really the concept of “loyalty” derives from Banks drive to earn more from each customer. Don’t forget – usually a lender will offer its existing mortgage holders a worse deal than it will offer to new ones. “Loyalty” – we don’t think so.

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