Thursday, April 30, 2009
What is it about Scottish Banks?
"The firm said that only customers who receive a one-on-one interview will be given the deal. Factors taken into account include type of employment, length of time in their current job and credit history." What? WTF? They mean that banks gave mortgages without these obvious checks in the past hence implementing the bleeding obvious makes Clydesdale fit for 90%+ LTV loans? Later: "He also admitted that the number of balances in arrears by more than three months has nearly doubled in a year, to 0.71 per cent." So it's time for a bit more aggressive lending!