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Look at long-term safety, not just short-term gains, urges Britannia

Building Society Britannia is urging consumers to consider carefully what sorts of loans they should take out, as those with high initial rates are not always the best long-term policies.

Jayne Dono, a spokesperson for Britannia, warned consumers to look not only at short-term benefits but to consider long-term stability and interests in a volatile economic market.

She added: "While savers may be benefiting from headline-grabbing rates in the short term, they should also be aware of the long term prospects and whether these organisations really have their best interests at heart."

Research carried out by the Building Societies Association has found that the majority of building society bosses are optimistic about the year ahead.

This announcement follows the fact that the majority of building societies have experienced record savings inflows in the last eight months.

Analysts believe this is due to consumers looking to utilise the relative safety of building society savings accounts in today's testing marketplace.

See how much you could borrow with a Lombard Direct loan

© Adfero Ltd

15/05/2008 15:50:19

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