Before the financial crisis, the UK banking system offered around 750 self certified mortgage products. By the beginning of 2010, all those products had disappeared. The self certified mortgage is no more.
UK banks seem to learn something about lending. It was a simple lesson, but costly one. When writing out a loan, it's usually worthwhile to check out the documentation offered by the borrower.
Tuesday, December 28, 2010
Whatever happened to self certified loans?
Labels:
central banks,
credit crunch,
Debt,
interest rates,
UK,
UK banking,
UK housing
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment