Friday, September 7, 2007

Very good news

Lenders gear up for tougher credit checks

Borrowers face tougher checks and potentially higher interest rates when applying for credit cards, loans and mortgages, experts have warned. Lending criteria are being tightened following the global credit crunch that rocked stock markets last month and continues to dog financial institutions.

Posted by confused76 @ 05:57 PM (868 views)
Please complete the required fields.



3 thoughts on “Very good news

  • Weblink was corrupted.

    Useful article sums up the situation of banks not wanting to lend because Head Office says not to….. no cash guys…sorry!

    http://www.dailymail.co.uk/pages/dmstandard/frame.html?in_bottom=http://www.thisismoney.co.uk/credit-and-loans/article.html?in_article_id=424064&in_page_id=9&ct=5

    Reply
    Please complete the required fields.



  • It will be a race to look solvent when everybody decides they have to “reveal” their hands.

    That means a rapid and aggressive tidying of the balance sheet:

    higher lending rates
    higher borrowing rates (get money onto the balance sheet)
    cutting payroll
    offloading as many debt instruments as possible. (either to people in “vulture” funds who havent realised there is plenty of room to the downside or private investors who should know better but think they are on a dip).

    Remember just like the guy putting on this running shoes when he is with another idiot and a hungry lion approaches; ” i dont have to outrun the lion, i just need to outrun you.”

    This will of course lead to further negative feedback, but we are talking about just being able to make your quarterly financial report at the moment.

    Reply
    Please complete the required fields.



  • Think about all the institutions that you know are heavily exposed in these areas and have been ziplocked.

    We have heard absolutely nada from some of the biggest US Investment banks. Diddly squat . Absolutely nothing.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>