Revealed: the products we find the hardest to switch

Broadband packages, current accounts and mortgages are the products that we find the hardest to switch.

That’s the finding from an annual study of the market, with home loans once again being the most difficult products. Mortgages topped that chart for the third year in a row, with fewer than half of those asked saying they had found it to be a simple process.

At the other end of the scale, the report by price-comparison service Gocompare found that moving house, switching car insurance and changing to a different energy provider were the easiest jumps to make.

“Some products are clearly easier to switch than others,” said Matt Sanders, of Gocompare.

“But it is also true to say that some providers and sectors have embraced switching more than others. The banking and telecommunications industries clearly still have work to do to recognise consumers’ right to switch and find a better deal.”

Mr Sanders said tougher lending rules introduced a few years ago had played their part in making switching mortgages harder.

“Affordability criteria now takes account of a would-be borrower’s overall financial health as well as their earnings, adding to the complexity of the remortgaging process and the amount of information required,” he said.

On the other hand, the Current Account Switching Service had helped make changing bank account a far smoother process.

Mr Sanders emphasised that switching products allowed consumers to enjoy lower premiums, better rates and lower charges.

But he added: “The right to easily shop around and take your custom elsewhere is not one that is universally recognised by all providers. As a result, it can take a bit of effort to switch sometimes, but any hassle is usually greatly outweighed by the financial benefits.”