3 million unable to open savings accounts!
Sunday 29th March 2009
Property of the Week from Property Mentor Workshop
Area – Northamptonshire
Property type – Town House
Number of Bedrooms – 5
Length on Market – New Build
Valuation – £260,000
Bought – £195,000
Positive Cash Flow – £1,013 per Month
Click here to see the testimonial videos
The credit crunch is not just impacting upon the property market according to recent reports. Savings accounts are beginning to feel the pinch too, but not in the way you think.
Discussing the gradual reduction in savings options since the Bank of England’s 0.5% interest rate cut, the Sunday Mirror produced a further startling revelation in their report: the news that over 3 million people are currently being prevented from opening a savings account.
Continuing in their analysis, the Sunday Mirror explained how High Street Banks are now resorting to denying individuals access to basic banking options based purely on their ability to contribute to their savings account.
Those deemed as not having ‘enough money’ are being classified as ‘high risk’ cases, and are therefore being refused the opportunity to set up a new savings accounts. A situation that has led to more and more people searching for other means of securing their finances.
How can property investment help?
It is an interesting twist in events. Instead of encouraging consumers to take out multiple savings accounts, Banks are actually taking a step in the opposite direction by making themselves inaccessible.
Yet this restriction could prove to work in the favour of consumers looking to invest their savings into other, more profitable avenues, such as buy-to-let.
Producing average rental prices of £612 a month across the entire breadth of the UK; investing in property can offer you a substantial difference in savings. Something which at Property Mentor they can help you to explore.
Using 1 of their 8 unique investment strategies, you can offer your finances the security it deserves whilst receiving a positive cash flow more than 3 times the size you would receive with an average savings account.
Plus during the 2 hour taster session, you will learn how it is possible to earn a positive cash flow of £500-£1,000 per property, per month for the rest of your life.
Interested in learning more about the savings vs. investing debate?
Click here to book your free Property Mentor Taster Session
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