You are here: Home - Saving & Banking - News -

Building societies attract record savings

0
Written by:
29/04/2008

Building societies’ savings influx in March reached £1.26bn, marking a 70% increase since March 2007, according to the Building Societies Association (BSA).

Adrian Coles, director general of the BSA, said that in the current uncertain economic climate, building societies are viewed by the public as traditional and trusted savings institutions. “Together with the competitive rates of interest they offer, these attributes mean societies continue to attract record levels of savings,” he said.

Coles continued: “Building societies have never relied on wholesale funding to the same extent as many other lenders, and these substantial saving inflows indicate that building societies are less exposed to the restricted availability of wholesale funds than other lenders.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Portfolio turnover nears two year mark

Stocks in UK unit trusts and Open-Ended Investment Companies (OEICs) are typically held for just less than two years, according...

Close