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Uk Lenders In Desperate Bid To Create Demand

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according to the business news source lenders in the UK are s desperate to get people to borrow money they're suggesting they get their children to pay it back when they die. Is this legal? I'm not sure I'd be happy if my parents saddled me with a huge debt ... I'm sure there's an impending 'selling scandal' looming with this, similar the endowment mortgage scandal.

... In Shakespeare’s era, moneylenders had a real image problem. As witnessed in the popularity of the play, The Merchant of Venice at the time – a play in which the evil money lender, Shylock intends to exact revenge on the poor Antonio, only get his own comeuppance at the end of the play. Today, global branding, image make over and our incessant need to borrow capital have changed our views towards the moneylenders. But over the next few months this may start to unravel.

The Financial Times of London refers in an article by Lucy Warwick-Ching to the beginnings of a PR campaign by lenders to encourage extension of debt to be ‘visited upon the heirs of the borrowers’ – excuse our vain attempt at Shakespearian. As we all know, the world is awash with cash to lend, the problem is that most people are already overextended in borrowing, so the lenders now have to find new routes to encourage more debt. Cue, lots of pondering in the bars of Soho sipping Caipirinha’s – answer let’s get ‘them’ to borrow more regardless and convince them that their children can pay off the debt .....

More at the business news source

http://www.invbiznews.com/wordpress/?p=435

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it definititely isn't legal in the UK.

You can't saddle someone with a debt without their express acceptance.

E.G. you loan them money, they owe a debt to you as per the terms of the contract you agreed with them at the time.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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