Your English writing platform
Discover LudwigExact(1)
In March, our Government launched a scheme under which taxpayers will guarantee deposits for new-build houses up to £500,000: this enables buyers to secure such properties with a personal deposit of no more than 5 per cent, when lenders are otherwise refusing to fund such transactions unless the deposit amounts to 20 per cent of the value of the property.
Similar(59)
Personal deposits into savings and current accounts increased by £3bn – well above the six-month average of £1.6bn.
It said personal deposits grew by £27bn in the first eight months of the year, compared with £15bn in the same period of 2015.
Over the first 11 months of the year, personal deposits grew by £32.4bn compared with £19.8bn over the same period in 2015.
Post offices already sell money orders and provide electronic remittances to nine Latin American countries; from 1911 to 1967 the USPS also held personal deposits.
Personal deposits grew by 4.8% year-on-year in November, figures from the British Bankers Association BBABA) showed, as people prepared for a tougher year of weaker economic growth and lower wage growth.
"This growth in personal deposits may also suggest that consumers are looking to grow their cash reserves against potential economic uncertainties, such as an expectation of lower wage growth".
Rebecca Harding, chief economist at the BBA, said: "A corollary of a low interest rate environment is a growth in deposits and we've seen personal deposits, in particular, grow more strongly in recent months as consumers hoard cash in the absence of higher-yielding, liquid investment opportunities.
In this hyper-competitive deposit market, you have assets that banks desire: your business and personal deposits.
Personal deposits grew by just 2.3% in July, the lowest growth rate for eight years, and below the rate of inflation.
Gore used the bank for most of his personal deposits, but also drew on lines of credit for as much as several thousand dollars.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com