Deal of the week

Flogas Natural Gas made a commitment last week to maintain its prices at 9% lower than those of Bord Gáis, despite the impending reduced natural gas prices taking effect in February. By switching your gas supplier to Flogas and your electricity supplier from ESB to Bord Gáis – and agreeing to pay by direct debit – you will be instantly cutting your gas and electricity costs by more than 10%. Switching is easy: the companies do most of the work for you and you can always switch back if and when the deal concludes.

Tip of the week

Impulse buying is the enemy of the budget-conscious, and weekly shopping expeditions make such purchases much more likely. By switching to a fortnightly or even a monthly shop, you will be forced to plan the period properly and significantly lessen your chances of grabbing a few extra items that you don't need while you stroll around the supermarket. Of course, you will probably need to pick up a couple of extra items during the fortnight or month but keep a list of things that you need and do one "emergency" shop rather than nipping in and out.

Bad value of the week

Using directory enquiries is an expensive habit and should be avoided if at all possible, especially as most numbers are available on the internet. If you do have to use directory enquiries, be aware that there are differences in the prices charged depending on the number you call and it's difficult not to see the pricier options representing very bad value for money. Ring 11850 and you'll pay a 99 cent set-up charge and 40 cent per minute (charge on a per-second basis); ring 11888 and you'll pay no set-up charge and 30.37 cent per minute. The difference is that you can only make one search on 11888 but who ever uses directory enquiries to get more than one number? Avoid the more expensive option.

Mortgage rates

Best tiered variable <50% LTV: AIB 2.25%

Worst tiered variable <50% LTV: Halifax 4.15%

Difference: 1.9%

Difference in cost per month on a €200,000* loan: €200

Best tiered variable >50% LTV : Bank of Ireland 2.4%

Worst tiered variable >50% LTV: Bank of Scotland 5.9%

Difference: 3.5%

Difference in cost per month on a €200,000* loan: €389

Best one-year fixed rate: Bank of Ireland 2.35%

Worst one-year fixed rate: Bank of Scotland 6.35%*

Difference: 4%

Difference in cost per month on a €200,000* loan: €449

Best two-year fixed rate: Bank of Ireland 2.65%

Worst two-year fixed rate: Bank of Scotland 6.8%*

Difference: 4.15%

Difference in cost per month on a €200,000** loan: €476

Best three-year fixed rate: Irish Nationwide 3.15%

Worst three-year fixed rate: Bank of Scotland 7.15%*

Difference: 4%

Difference in cost per month on a €200,000* loan: €449

Best five-year fixed rate: PTSB 3.7%

Worst five-year fixed rate: Bank of Scotland 7.75%*

Difference: 4.05%

Difference in cost per month on a €200,000* loan: €488

Best 10-year fixed rate: PTSB 4.5%

Worst 10-year fixed rate: EBS 5.1%

Difference: 0.6%

Difference in cost per month on a €200,000* loan: €69

* 25-year term

www.mortgagebrokers.ie