More people are choosing to store their money "under the mattress" than 12 months ago, a new study indicates.

A poll by Newcastle Building Society asked Brits where they would have invested £10,000 a year ago and what they would do with the same sum now.

The proportion of consumers choosing the mattress's underside as the best place for their funds grew from four per cent to 11 per cent over the 12 month period, the survey discovered.

Meanwhile, the number of consumers willing to trust their bank with £10,000 fell from 28 per cent to 23 per cent and those ready to entrust their savings to a building society dropped to 34 per cent from 46 per cent.

Wendy Lee, commercial director at the building society, said: "These findings are a stark sign of the times, but they are also exacerbated by the hype surrounding the credit crunch."

In related news, Halifax research carried out earlier this year found that people aged 20 to 29 are more likely to take out debt consolidation loans than their peers in other age groups.
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