Loans and Finance

Loans and Finance

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News and information about loans, money, debt, finance and business issues.

Thursday, January 03, 2008

Lending Tightened

The Bank of England (BOE) has warned that the number of households defaulting on their mortgage payments is expected to rise over the next three months.

The BOE also noted that banks were now less willing to lend, because of the higher cost and reduced availability of credit.

Add this to the very gloomy New Year message from the Prime Minister, and it is clear that 2008 is not going to be at all pleasant for those seeking credit or those already in debt.

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