Wednesday, Apr 11, 2007
Pro's & Con's of Equity Withdrawal
BBC News: Using your house as a wallet
Article from the BBC on the benefits and risks of equity withdrawal, the articles structure heavily biases it towards continued borrowing arguing that responsible lenders will have a vigorous screening process in place, credit-scoring all customers to ensure that they do not lend to people who cannot comfortably afford the repayments.
Posted by enuii @ 11:20 PM (160 views) Add Comment
4 Comments
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1. Ticktock said...
REF - So if no one will give you an unsecured loan, sit down and ask yourself why!
....and keep asking why, and asking why again and again, double checking, feeling sick,checking why. and how, and then all of us cheer with an uncompfortable pearly white smile (or else) 'three cheers for US Capitalism and the dollar/ wall st. Global empire!
Hip hip......?......
2. This comment has been removed as it was found to be in breach of our Blog Policies.
3. Hyrax said...
When I lived in the States even my own bank receiving my bimonthly paycheck declined me a car loan, credit is definitely more difficult than here..you cannot go overdrawn, overdrafts are unknown in USA.. Opening a new account with a high street bank in UK recently OFFERED unprompted on my part 1000 overdraft, 4000 credit card and a 250,000 mortgage on my verbal claim that I earned 25k, no statements required. Subprime UK!!!
4. rich said...
Ticktock, have you read Wealth of Nations by Adam Smith?