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Halifax offers advice on &#39spring cleaning&#39 finances

Halifax bank is urging people to “spring clean their finances” by

looking for better mortgage, insurance, savings, loan and pensions&#39

deals.

It advises borrowers to ensure that their mortgage repayments are

calculated on a daily interest basis as people can make substantial

savings by ensuring every penny paid to their loan immediately

reduces the amount owed andthe interest paid.

When it comes to life insurance, after checking that the cover is

enough to protect the whole fam-ily, Halifax advises trying to find

the most competitive price.

With pensions and inv-estments, it is urging people to save regularly

into a tax-efficient Isa and find out how much of a pension

they are likely to have to retire on.

Head of regulated sales Jo Dawson says: “Sorting out your finances is

an allencompassing exercise and people cannot afford to look at any

part of it in isolation.

“But the simplest way of getting the best deal is often by doing the

simple things. Have a look at your current account and

mortgage, check the rates you are paying on other borrowings and

assess what you are gett-ing for your money with investments.”

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