Friday, May 2, 2008

Don’t blame the lenders!!

Lax British bankruptcy rules worsen credit crunch

Britain’s bankruptcy rules have exacerbated the effect of the credit crunch across the country, the UK’s leading economics institute said today. And here was me thinking it was lax LENDING that caused the problem!

Posted by renting2 @ 02:46 PM (664 views)
Please complete the required fields.



4 thoughts on “Don’t blame the lenders!!

  • whiteknight says:

    Without comment on whether this is a correct approach or not – lenders since 2004 have presumably been aware that this is the case and therefore fully factored this into their risk lending models and computations since this time!!!

    They wouldn’t have just noticed it and starting complaining of course. Because that would mean it wasn’t factored into their models.

    Reply
    Please complete the required fields.



  • It’s been the financial equivalent of an orgy, one can only blame All The Participants because as long as the party continued all those with a vested interest from The Government, Banks and Estate Agents through to the punters who believed house prices always go up were quite Selfishly Happy to go along with it.

    Reply
    Please complete the required fields.



  • I remember thinking when this change came out that this would ultimately fuel the downward slide of house prices. BTLers will find it is in their best interest to become bankrupt and have only one lean year instead of perhaps 10 lean years.

    Reply
    Please complete the required fields.



  • IMHO, Gordo and New Labour have tried to insulate our current society from the consequences of it’s errors.

    You will therefore see a NATION which falls over, instead of individuals. It may be a financial disaster or House Prices falling off the edge – the government has sent out a message that it is the Nanny state – but sometimes nannies drop the baby!

    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Your email address will not be published.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>