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Safe Savings

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treaders_2
treaders_2 Posts: 1 Newbie
in Savings & investments
Can you confirm that the £35K protection on savings is per person not per household? i.e if 4 adults have seperate savings accounts in the same institution such as the Abbey and live at the same address would they each get £35K protection if the bank went bust?

Comments

  • freddykrueger
    freddykrueger Posts: 283 Forumite
    The protection as far as I am aware is per person.
    Mortgage when started October 2011 : £94,134

    Total mortgage balance Mar 2016 [STRIKE]£78,417[/STRIKE] [STRIKE]£77,523[/STRIKE] [STRIKE]£76,181[/STRIKE] £72,001
    Offset Saver account Mar 2016 [STRIKE]£45,238[/STRIKE] [STRIKE]£45,666[/STRIKE] [STRIKE]£47,593[/STRIKE] £52,093
    Mortgage paying interest on Mar 2016 [STRIKE]£33,179[/STRIKE] [STRIKE]£31,859[/STRIKE] [STRIKE]£28,588[/STRIKE] £19,907
  • RayWolfe
    RayWolfe Posts: 3,045 Forumite
    1,000 Posts Combo Breaker
    The protection is per person.
  • Aegis
    Aegis Posts: 5,695 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    MoneySaver_007 wrote: »
    Only one person, sorry
    That's totally incorrect and you're spamming via your signature.

    To clarify, the protection is per person per institution. Number of people in a household makes no difference at all.
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
This discussion has been closed.
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