Could drop in British savings further home equity release schemes?

More and more people could turn to home equity release schemes as new research indicates a decrease in the total savings put away by Britons.

British savings have been at the wrong end ever since the start of the global financial crisis, according to a new piece of research.

The findings published by unbiased.co.uk show that British workers are presently only saving a little more than £16 billion. In contrast, the pre-recession figures were around £39 billion.

The year 2008 was the worst for British savers as the economic downturn forced savings to drop to £20 million.

At present, Britons are currently borrowing 37 pence for every pound that they save, it has been claimed by unbiased.co.uk.

In light of the dismal state of British savings, the action group Save our Savers has urged the coalition government to undertake a thorough assessment of pensions and other savings systems.

Ashall Glover Financial Services experts in home equity release schemes