Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Credit card claim: Consumers prioritise savings

Despite poor rates, consumers have increased their savings in the last year.

This is according to the British Bankers' Association (BBA), who said that personal deposits had risen by 5.5 per cent in the last year in spite of the fact that saving rates can be as low as 0.1 per cent after tax.

The BBA suggested that the main reason for this surge in saving is due to lower consumer confidence.

It noted that new savings were higher than new borrowing statistics, in spite of the fact that there are financial schemes available to help consumers. For example, Help to Buy and the Funding for Lending Scheme are both intended to reduce the cost of mortgages.

Directors of statistics at the BBA David Dooks said: "Low consumer demand is depressing demand for new borrowing and consumers are continuing to save."

In contrast to savings rates, Mr Dooks noted that the government housing schemes had made banks offer competitive interest rates.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers. ADNFCR-2776-ID-801590304-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit 16, Elysium Gate, 126 New Kings Road, London, SW6 4LZ and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide