National Savings & Investments sees record deposit levels
April 12, 2009 by admin
Filed under News, News-Banking
According to a recent report the level of savings being deposited into National Savings & Investments by consumers in the UK has hit record levels, and more and more worried consumers look for a safe place in which to place their hard earned cash. Read more
Tags: National Savings & Investments, money, savings accounts, Banking, investments, National, National Savings
A quarter of a billion pounds left in accounts says investment provider
February 6, 2008 by admin
Filed under News, News-Banking
A new initiative has been launched to reunite consumers with their lost bank accounts after it was announced that an estimated quarter of a billion pounds has been forgotten. 
National Savings and Investments said that the main reason for money being left in accounts is moving house.
Ayesha De Silva, online manager for NS&I, said: “People often hold an account with two or three different providers over the course of a lifetime and when they move house, it’s the simple fact they forget to tell all the relevant people.”
She added that this situation is exacerbated by every move that a person makes meaning that the funds can just “sits there for years and years and years”.
In research carried out by TNS Phonebus last year, national statistics show that ten per cent of people believe they have lost savings they had as a child.
Only 26 per cent of these people have tried to reunite themselves with their lost money.
Brits happy to leave country to save for house
March 12, 2007 by admin
Filed under News, News-Mortgages
The British property market is proving to be so inaccessible to first-time buyers that many are considering moving abroad.
According to research carried out by National Savings & Investments (NS&I), one quarter of us are prepared to live in another country while saving for a mortgage on a property back home.
More than 1,000 people were questioned as part of the firm’s Quarterly Savings Survey and it was revealed that 25 per cent would consider moving abroad.
Some are even prepared to go as far as Australia and New Zealand, while Spain appears to be the most popular destination.
The USA and eastern Europe were also named as likely locations, while 24 per cent of Brits said that moving within Britain would also be an attractive option.
“British people clearly have a great appetite for buying a property in this country but find it difficult to save for a deposit while living here,” commented Dax Harkins, senior savings strategist at NS&I.
“It seems many will go to extreme lengths to achieve their goal, even if it means moving to the other side of the world in order to save up for a deposit back home.”
If you are struggling to get onto the property ladder in the UK it may be worth moving to a nation with a cheaper cost of living and giving yourself the choice of moving back or staying abroad in the future.
