UK Money News
2nd April 2008
UK savers turning to building societies
More and more Britons are choosing to deposit their savings in building societies rather than banks, new figures suggest.
According to new data from the Building Societies Association (BSA), around £1.35 billion was deposited into building society accounts over February.
This figure is the highest net inflow recorded since 1997, the BSA claims.
Commenting on the statistics, Brian Morris, head of savings policy at the BSA, attributed the inflows to a number of factors - including increasingly competitive products offered by the sector.
He said: "Building societies have enjoyed another strong month as high interest rates and attractive products have encouraged people to save with societies.
"The continuing economic uncertainty and volatility in stock markets have provided further incentives to put money in cash savings."
A further contributory factor was the downturn in the housing market, which has reduced demand for mortgages, he claims.
“Net lending by building societies is down compared to this time last year. This suggests the lower levels of activity in the housing market reported by the Land Registry yesterday for December are continuing into 2008," Mr Morris said.
back to April's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
