In the News - Mortgage lenders
Banks promise higher mortgage rates but 'fairer' treatment
Mortgage lenders yesterday pledged to 'treat borrowers fairly' in the event of a slowdown in the housing market after the Bank of England announced a £50 billion package to ease their credit concerns (reported in yesterday's 'In the News'). Banks have promised more help for homeowners who are struggling with their mortgage payments and to use repossession only as a last resort.
However, there were further warnings from the banking industry that, notwithstanding the Bank of England bail-out, mortgage rates would continue to rise in the short-term.
(Sources: Guardian.co.uk)
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23-Apr-2008 10:15:03
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