Over one in ten Londoners are saving money in bank accounts and deliberately keeping it quiet, a report from Lloyds Bank reveals.
Lloyds Bank claims that an average of one in ten UK residents keep at least part of their savings a secret from their partner. London’s rate is slightly above this at 12 per cent.
The report claims that around 2.2m people in the UK are now storing savings unbeknown to their families or their partner. UK residents have started to place an extra 20 per cent of assets in secret savings accounts over last year, storing a total £3.68m in discreet accounts that family members are unaware of.
The average account holder now keeps just under half of their savings secret at 46 per cent, up from last year’s figure of 34 per cent.
The report shows that couples are also continuing to save more independently, with the average UK couple now keeping 68 per cent of their savings and investments in sole accounts, up from the 63 per cent recorded in 2013. London has the highest proportion of single savings. 75 per cent of London couples keep their savings in separate accounts, the highest rate of any UK region.