banks
Most people will spend most of their life owing people money. They do not realise that they can save money (sometimes quite a lot) by consolidating their income, savings and debts into a single bank account. This, of course, is not the traditional way that people run their personal finances, with salaries going into one account, savings into another and a completely different arrangement to pay off the mortgage. The One account allows you to put your savings and borrowings together, keeping the cost of your borrowing to a minimum. When you open a One account, you negotiate an overall borrowing facility that can represent as much as 95% of the value of your home. Thus a couple with a ₤100,000 house – and needing an 80% mortgage – might set up a loan facility of ₤95,000, giving them an additional ₤15,000 to call on when required.