When you are looking at which loans, current accounts, saving, insurance policies and things like this to pick it is easy to just pick the cheapest without really thinking about who is providing it. Although it is important to consider the cost, it is wise to know who is priding it and find out a bit about them as well. They could have a big influence on how good the product is and so it is worth the effort to find out more. There are many factors that you could consider and some of the main ones are listed below.
- Popularity – you may think that it is important to be with a company that is popular, It can make you feel more confident towards a company if you know that a lot of other people are using them. You might feel that if the company is not popular it is because people have tried them and not liked them. It could be, of course, that they are newly established or do not advertise much so people do not recognise their name. Companies like Omacl.co.uk have great reviews when it comes to customer satisfaction.
- Local branches – some people prefer to be able to visit a local branch. They like to be able to discuss any issues that they have face to face with someone rather than dealing over the telephone or online. You may personally not mind and if you work full-time you may find that even if there is a branch it may not be open during hours that you are able to visit.
- Customer service – how good their customer service is can be really important. It is likely that you will, at some point need to talk to them to answer questions or sort out problems that you might have. It is therefore worth making sure that it will be easy to contact them and to get an answer to your query. It is good to find out how they can be contacted and get in touch with them in order to find out how fast they are at getting back to you and how polite and helpful they are.
- Reviews – you may wish to look at reviews of the provider so that you can find out more about them. You should be able to find this sort of thing online, so that you can compare them with other providers. It is worth remembering that no provider is perfect and there will be bound to be some people that prefer a different one. As we are all different, we all have different requirements with regards to what make a good provider and so it is worth bearing this in mind. If someone does not like a provider because they only have a small range of credit cards but you are looking for a mortgage with them, then it does not really matter.
- Friends/families thoughts – it can be worth asking people you trust what they feel about different providers. They will all have used different insurers, banks and building societies so they will be able to let you know what experiences they have had and whole they trust and who they do not.
- A place you know – you might want to stick with a provider that you have used before. There is some comfort in sticking with a company that you know, particularly if you have had all good experiences with them. However, just because we know they will treat us well, does not mean that there are not better ones available or ones that are equally as good but cheaper.
- Products – obviously you will need to think about what products they offer and whether they are what you want. You should also look at how competitive they are and see whether you expect to pay more for their products or not. You may be prepared to pay a bit more if you really trust them but this will partly depend on what you can afford as well as whether you think they offer good value for money.
These are just a few things to consider and you may have other concerns that you want addressed before you make up your mind. Think about what those things might be. It can be a big decision, especially if a lot of money is at stake and that is why it is important to make sure that you think carefully and are confident with your decision. It might take a bit of time to do all of that research but you will find that it is worth it if you end up with a provider that fits your criteria and that you can trust. You will be especially grateful if you have a problem and need to contact them quickly and you have chosen a provider who is available, polite, flexible and knowledgeable.