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A&L expects Isa rush

Alliance & Leicester is confident that the Isa season will finally take off and is introducing late opening hours in its branches to cope with applications from last-minute savers.

Research from A&L shows 28 per cent of Britons will be focusing on building up their savings and investments this year. It says demand for Isas looks set to remain strong, particularly for cash Isas, despite low interest rates. It is extending the opening hours of 85 of its branches to cope with the late rush to capitalise on this year&#39s tax-free Isa allowance.

In the week before April 5, branches will open from 9am until midnight.

A&L&#39s research shows younger people are most concerned about their finances. More than one in three under-30s – 38 per cent – are resolved to save more money in 2002, compared with one in four of the over-30s.

Higher-net-worth individuals are least concerned about increasing their savings, with 75 per cent of those earning over £60,000 saying they will be concentrating on getting fit this year rather than investing.

A&L also found that people in the West Midlands are most financially focused in the country, with 36 per cent saying they intend to save more. A quarter of those in the North of England are keen to improve their finances but say that they will do it by spending less.

Product manager Simon Ripton says: “Alliance & Leicester is responding to customer demand for last-minute Isa applications.

“We are urging people to make the most of this year&#39s tax-efficient savings and it is encouraging that the research findings indicate that many more Britons are thinking about their saving and investment needs.”

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