Savings ’should be protected’
Article Category: Debt Consolidation Help and Advice
All consumer savings should be protected - not just those held by Northern Rock - according to Fool.co.uk.
Head of personal finance David Kuo makes the assertion in response to a pledge by HM Treasury to ensure Britons do not lose money in accounts with the building society.
“We are disappointed that HM Treasury has chosen to limit guarantees to Northern Rock customers rather than extend its assurance to all bank customers,” Mr Kuo comments.
Meanwhile, price comparison service moneysupermarket.com reports a surge in consumers looking to protect their financial standing with mortgages and loans in light of the current affordability crisis.
During the recent media coverage of Northern Rock, “mortgage traffic rose 50 per cent and loans requests by 30 per cent” on the website.
“We not only witnessed a high increase in the number of people researching on the site, but also transacting,” head of savings Kevin Mountford observes.
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