Banks and building societies expect the burden of bad loans to soar in the first quarter of the year as cash-strapped borrowers come under mounting financial strain. In a CBI survey, 30% of banks and 78% of building societies said that they expected a rise in bad loans in the first three months of the new year. The majority said that they expected the volume of new loan approvals to decline over the same period, the Times writes.

Money Magic: Seven Simple Steps to True Financial Freedom (Quick Reads)

Related posts:

  1. Recession Expected And House Prices Expected To Fall
  2. Using Consolidation Loans To Deal With Your Debts
  3. Monetary Financial Statistics For Oct 2007
  4. Payday Loans Can Cost You Lots Of Money In A Very Short Time
  5. First Time Buyers Spending More Of Their Income On Mortgage Interest

Filed under: General

Like this post? Subscribe to my RSS feed and get loads more!