Banks are for banking

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In the last few years especially, people have started to look at ways they can save money.After the last few budgets people realized enough is enough i need to claw this money back somewhere.

Insurance costs was one of the things people have started to shop around for.I have spoke about this before but once again today on ash Wednesday we will advise you how to get those euros back that you lost in last few budgets.

When you took out your mortgage with your bank, they would of insisted on mortgage protection or life insurance.

Banks are mostly all tied agents so they can only quote you for one company.You need to get your existing policy re-quoted with a broker as most have agencies with 6/7 different companies.If you went directly to an insurance company then you will also need to get re-quoted.

Insurance brokers get discounts that clients themselves can’t avail of unless they go through a broker.Yesterday i had a client  who was paying €60 mortgage protection with their bank.They asked me to re-quote this and best price i could get was €42 for the exact same policy.

To some of us this doesn’t seem much, but a saving of €18 every month is then €216per year and over the course of the 25 years left of their mortgage the saving is a MASSIVE €5400.

Obviously the client was delighted with this and we then went on and saved her a further €125 on her home insurance which she had also taken out through her bank and had just kept renewing every year.

In my view banks are for banking and banking only,if you want a review or a re-quote of any mortgage insurance or life insurance policies you have feel free to email me at