Thursday, October 16, 2008

Credit crunch proceeds apace – can the govt force lenders to lend?

Millions of loan applications rejected

Report from MoneyExpert estimates that a total of 3.27m credit card applications and 1.56m loan applications have been refused by lenders during the six months to mid-September 2008, the equivalent of 27,000 rejections a day. People whose applications are being approved are also having to pay higher rates than they were being charged 18 months ago e.g. the interest rate on personal loans has doubled from 8.6% to 15.3%... credit has really crunched in the last six months. Is the government bailout going to change this? Can't see how, personally.

Posted by an bearin bui @ 04:34 PM (527 views)
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Your email address will not be published.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>