Quote:
Originally Posted by Osem
One good thing about the financial 'crisis' - the amount of junk mail offering us credit cards, loans, balance transfers, equity release schemes etc. etc. has dried right up. Small comfort really though......
|
True. The banks and building societies are reverting back to the management style they used before sub-prime lending.
Now, you will only get a mortgage or a loan if you have an excellent credit rating, own your own house and present a minimal non-repayment risk.
Pity they did not stick to this old tried and trusted management style because had they done so we would not be in the financial mess we are in.