Study Shows Increased Demand for Savings, Investment and Borrowing Products
11th July 2014 11:47 - Financial Services
John Gilbert Financial Research’s (JGFR) latest Financial Activity Barometer has highlighted increased demand for savings, investment and borrowing products – the highest it’s been since the spring of 2006.
Of the 2,004 UK adults (16 years+) who participated in the survey, almost three quarters (74%) said they plan to invest or save – over 15% more than 2013’s figure (58%) and the highest in the survey’s 12-year history. ISAs, regular savings, Junior ISAs and Child Trust Funds were at or close to survey highs.
Due to a much improved investment sentiment, the report also suggests the retail sector will see healthy trading volumes.
Furthermore, 56% of workers said they intend to make regular pension payments – this is over one quarter (26%) more than 2013’s response (30%).
Life insurance payments have seen interest increases too, with just shy of one quarter (24%) of the survey’s respondents aiming to make regular disbursements – 6% more than this time last year. Overall, demand for life insurance and pension schemes is the highest it’s been since the first quarter of 2006.
Following the trend, intended credit usage/borrowing this summer is back to pre-recession levels, with mortgage and consumer credit the highest they’ve been in several years.
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