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More than £42m 'lost down back of sofa'

By Sarah Engle, Tue 10 Aug 2010 - Published in Banking

Brits could be sitting on more than £42 million which has been lost down the back of their sofas, a new study has claimed.

Research published by Halifax found that the average UK resident thinks they have lost £1.61 in loose change down the back of their couch, amounting to £42.9million for the whole country.

The poll also found that the average Brit has a total of £17.69 scattered about their home in loose change they had forgotten about.

It showed that pockets are the most common place for missing coins to be found, cited by 39 per cent of respondents, followed by the bottom of a bag (36 per cent) and in their car (27 per cent).

Flavia Palacios Umana, head of products at Halifax Savings, commented: "These figures prove that we should no longer ignore our loose change but manage these small sums more wisely."

Last week, George Ladds, head of investment and pension research at Fair Investment Company, said that savers need to start looking for accounts which give them good returns, as the Bank of England base rate is unlikely to rise soon.