Financial market conditions have meant many consumers are considering moving their savings between different providers, a financial services company has said.
Figures from Abbey Savings show that £57 billion of savings may be moved by Brits hoping to take advantage of the best interest rates .
Director of savings and investments at Abbey Reza Attar-Zadeh comments that the climate is ripe for consumers wanting to make the most of their savings accounts .
"This is a great time for savings and we are seeing interest from new savers at unprecedented levels," he notes.
He adds that savers should take advantage of the position they are in while it lasts.
According to the firm, there are indications that the current interest rates which are benefiting savers may only be around for a limited time.
In related news, figures released by Unbiased.co.uk show that savings by Brits reached record levels in the second quarter of 2007.
Chief executive of the firm David Elms described the figures as "encouraging" and that savers are "savvy consumers".
Abbey: Brits consider switching savings
Abbey: Brits consider switching savings
Tue, 25 Sep 2007
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