Tuesday, March 13, 2012

Reading between the line the title disguises the intent with this one

Free banking is 'outmoded concept', senior regulator warns

This is an article in disguise as the content from half way down is far more interesting than the title suggests. The regulator (FSA) is "monitoring closely" the repayment of interest-only mortgages which are due be repaid over the next five to 15 years and will looking at the fair treatment of those customers whose mortgages mature but who cannot repay the capital. The graphs, Arrears and Repossessions and Mortgage Maturities are also interesting as is the regulators hint that bank customers should somehow (via account charges) subsidise bad mortgages and those in 'forbearance' who amount to some 8% of mortgage holders!

Posted by enuii @ 08:14 PM (1412 views)
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3 thoughts on “Reading between the line the title disguises the intent with this one

  • Nice graph. Arrears cases have tripled since 2007, from 1.1% to 3.3% (reading off the graph).

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  • So evidently some banks are discovering that after egging on customers to take out huge mortgages with no repayment vehicle in evidence, debt forbearance only kicks the problem further down the road.

    WELL TOUGH TITTIES. Whats good for the goose is good for the gander and if forbearance is your only way to avoid bankruptcy then well you just have to suck it up just like all your customers who were missold financial products over the years.

    And the FSA better just remember that before it slips another Get Out Of Jail Free card to the nation’s stupid bankers.

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  • When you have bailouts propping up past mistakes, competition and market forces are diminished. This always leads to higher prices.

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