Apr 25 2007
Investors in the UK have not hurried to top up their equity individual savings accounts (Isas), it has been claimed, with many households choosing not to save in 2007.
Capita Registrars reports that the savings ratio in the UK is well below the long-term average figure, with improvements in the markets coming too late in March to prompt investors to purchase equity funds before the end of the tax year.
John Roundhill, director of the firm, said: "With saving off the agenda for many households, it looks like 2007 will repeat last year's disappointing Isa sales."
He added that some UK homeowners are instead using the ever-rising value of their homes as a means of funding their everyday spending.
Last month, Isa provider Invesco Perpetual advised consumers to reduce the risks involved in investment by using a phased option or monthly savings plan to invest regularly over a long period of time.
