Wednesday, April 11, 2007

Pro’s & Con’s of Equity Withdrawal

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 (454 views)
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3 thoughts on “Pro’s & Con’s of Equity Withdrawal

  • 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……?……

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  • 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 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!!!

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  • Ticktock, have you read Wealth of Nations by Adam Smith?

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