How to haggle on the high street

It's quite possible for people to haggle with their accountant, estate agent, financial planner or insurance company. Ask these professionals and most will admit having dropped their fees for clients when they can see a good business case.

You should argue the cost of insurance, says the Consumer's Institute and don't accept the first mortgage interest rate you're offered. Even a fraction of a percentage point can add up over 25 years. Says one property investor: "If I get a quarter of one per cent off the rate I feel like Tarzan. The lender knows I want to buy more property and I am a high value client. "

Bargaining is the mark of a financially-savvy investor and if you don't haggle you could be throwing your hard earned money down the drain.

It's not just rates and commissions you should be arguing over. If your bank or mortgage lender charges fees, then they're fair game as well. Maybe it's worth reminding them that RaboPlus doesn't sting its clients with fees.

Before you haggle you need to do your homework. Shop around and find out what you'd pay elsewhere, and think of reasons why the firm in question wants your business. Then suck some air through your teeth in the way the plumber does when you ask how much it costs to unblock your drain and ask: can you drop the rate or price?

Other one-liners to keep up your sleeve include:

• What's your corporate rate?
• What's your price if I give you all of my policies [or buy two]
• There's XYZ wrong with this item, will you drop the price?
• Have you got something with fewer bells and whistles?

• If I buy it, can you throw something in for free such as [naming the item you want]

Other items you can, and should bargain hard for include:

• houses
• professionals' fees
• new and used cars
• hotel rooms
• private hospital fees - especially for operations
• gym memberships

Diana Clement
Independent Financial Commentator