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

Savings on the up

0
Written by:
20/03/2006

Building societies had net inflows of £868m in February compared to £409m in February 2005. Net advances were £629m in February 2006, versus £602m in February 2005, a 4.5% increase. Mortgages approvals were £3,646m in February 2006 up from £3,394m in February 2005.

Brian Morris, head of savings at the Building Societies Association, said: “The amount saved in building society accounts last month was the highest for any February since 1997. Savings have been significantly stronger over the last few months, while high street spending has been restrained. There are indications that consumer confidence in the economy as a whole is falling and precautionary savings appear to be rising as a consequence.”

On a seasonally adjusted basis, February’s mortgage approvals were slightly down on January’s high. While the market remains strong, indeed out-stripping some commentators expectations, a slowing number of loans agreed but not yet made could signal a slight moderation after a relatively buoyant winter.”

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:
Direct debit rip off

Paying for motor and home contents insurance by Direct Debit is adding an extra £2.7 billion to annual bills, according...

Close