Credit buyback: 1 in 2 Europeans indebted, according to bank
” What are you going to do with your savings?”, Is the subject of the latest study led by OutBank Online Banking and Ipsos Institute. The survey provides an assessment of the level of debt of Europeans. 14,600 people from 15 countries in the Old Continent were interviewed between 4 and 18 October 2016.
What is the level of indebtedness of Europeans?
” Stable ” is the finding of OutBank as to the debt of Europeans between 2015 and 2016. One borrower out of two has ” personal debts “, including a consumer loan (20% of them)., a result that does not move compared to last year).
Other ” debts ” taken into account are bank overdrafts, credit card loans, student loans and loans from relatives. But not real estate loans.
And the French in all this? They have a peculiarity: they are the champions of bank overdraft. ” Eighteen percent of them use it very regularly as a safety net against only 12% of Europeans, ” saysOut.
Good to know
The repurchase of credit (also called debt restructuring) can help you reduce your debt ratio. By grouping all your loans (real estate, consumption, tax debts, bank overdrafts) into one, you only pay one monthly payment. And reduce your debt level. Consolidation of loans can therefore be the ideal solution to regain new investment capacity. Our credit redemption comparator allows you to benefit from the best offers on the market.
The impact of real estate rates
It is often said, bank rates have never been so low, in France but also in other European countries. Historical levels that have had consequences for the savings behavior of Europeans ( 44% of them). The latter thus drew on their reserves (21%) or less saved (20%), while a minority did not save more (only 3%).
Figures substantially identical in France. ING adds that 23% of French savers ” worry about their retirement savings ” and 31% ” are less satisfied with saving “. This is the other side of the coin: when loan rates are reduced, the rates of pay for savings products follow the same trend.
Lower risk investments favored by Europeans
” When it comes to investing their savings, Europeans are highly risk-averse and are afraid of less conventional investments, such as alternative investments, equity investments in companies or bond purchases. “
For 54% of respondents, taking a stake in a company represents a risky investment. Ditto for crowdfunding (or crowdfunding), they are 40% to consider it as a risky investment.
This observation made, the savings account is the most used investment (69%).