Mortgage refusals rocket by 60%

[sonyse2t5]

The Banks are issuing less credit already in proportion to the population in the last ten years as they have tightened up lending criteria for all forms of lending especially mortgages. Brokers applicatiions are audited more than before on risk lending. It is probably harder to get credit now than 10 -15 years ago as the Banks are now working to share info on credit people have taken and how they operate their accounts -Credit reference agencies are now more inportant in informing decison making than before. The people on an IVA here would have not been able to get the same level of borrowing in current state of affairs.

We have to ask whether there is a debt issue in the UK and I doubt I will more than 50% response from anyone to say there is NO debt problem and we just keep handing out more credit as % of those defaulting is small. That means we need no debt Education as there is no problem.

[mikebdomain]

The official word seems to be; (albeit, a surprise to me, probably because I am around it all day, every day…) ‘there is no debt problem in the UK’.

As for unsecured lending and credit cards issued by banks, the growth of both has been falling since last quarter 2004 – secured mortgages have now overtaken both

The current growth figures are shown as:

Other unsecured loans and financing to UK households: 5% and dropping
Credit cards issued by UK banks to UK households: 2.5% and rising slowly
Mortgages issued by UK banks to UK households: 10% and steady

This is according to the Bank Of England and the FSA regulatory returns.


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[sonyse2t5]

Statistics and the lies they can tell.We are all entitled to our own. I think my favorite is the BBA admission that 54 bilion quid are on creditcards in te UK with 60 plus million people and 75% of the balances are accruing interest! Now why pay interest if you can afford to buy something?

If one is paying interest then the card is misused. Even credit reference agencies will take a dim view in multiply cards showing up in credit checks with balances on thenm unpaid over years.

If creditcard isn't the problem(OK) then the use of them are. Education Education Education - before the next group of 18-25s do what we all did.

It is the case that if you can't handle your alcohol then it should be taken from you before you do harm