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New me New start, Pania's positive Progress!

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Comments

  • pania
    pania Posts: 8,258 Forumite
    ello you!

    erm nope, lending criteria is incredibly tight right now. lenders are asking for more and more supporting evidence, even on loans that would previously have passed as "fast track" no worries at all. the FSA's new "Know your customer" regulations are being taken a little too literally in places....
    debt @05/11/11 £12210.63!! slowly chipping away!!
    :heart2:impossible is nothing.:heart2:
  • pania
    pania Posts: 8,258 Forumite
    ooooooooooooh dear squirrel!!!! what type of ice cream? and only too late if you are busy all day tomorrow and have stack loads of work to do..... want to do some for me?
    debt @05/11/11 £12210.63!! slowly chipping away!!
    :heart2:impossible is nothing.:heart2:
  • redsquirrel80
    redsquirrel80 Posts: 12,457 Forumite
    pania wrote: »
    ooooooooooooh dear squirrel!!!! what type of ice cream? and only too late if you are busy all day tomorrow and have stack loads of work to do..... want to do some for me?

    Waitrose's butterscotch toffee flavour... yummmmmmmm :p

    I'd love to help you out but I'm afraid it's bedtime for me.. have a good night... and a good day tomorrow :) xx
    Debt@16.12.09 £10,362.38, now debt free as of 29.02.2012.
    "I cannot make my days longer so I strive to make them better."
  • pania
    pania Posts: 8,258 Forumite
    i'm sure i will..... sweetdreams..xxx
    debt @05/11/11 £12210.63!! slowly chipping away!!
    :heart2:impossible is nothing.:heart2:
  • ZTD
    ZTD Posts: 24,327 Forumite
    pania wrote: »
    ello you!

    :wave:
    pania wrote: »
    erm nope, lending criteria is incredibly tight right now. lenders are asking for more and more supporting evidence, even on loans that would previously have passed as "fast track" no worries at all. the FSA's new "Know your customer" regulations are being taken a little too literally in places....

    When banks want to lend, they'll take any excuse to lend. When they don't want to lend, they'll take any excuse not to.

    I was wondering if the banks were loosening their lending criteria in exchange for charging higher interest, using the typical price/liquidity compromise.
    "Follow the money!" - Deepthroat (AKA William Mark Felt Sr - Associate Director of the FBI)
    "We were born and raised in a summer haze." Adele 'Someone like you.'
    "Blowing your mind, 'cause you know what you'll find, when you're looking for things in the sky."     OMD 'Julia's Song'
  • pania
    pania Posts: 8,258 Forumite
    no in a word. they do not want to lend so are putting rates up and increasing criteria to prevent lending to any but the simplest of cases.
    All i keep hearing from customers is "oh but the interest rate is coming down." no it is not! the BOE base rate yes maybe, but due to the difficulties lenders are having in borrowing from each other they are increasing their rates to discourage borrowing and also to bring in additional revenue per month.
    the lending rate is increasing, rapidly, we have seen the return of 6% + fixed rates this week being the norm for some lenders, esp the high street lenders.
    debt @05/11/11 £12210.63!! slowly chipping away!!
    :heart2:impossible is nothing.:heart2:
  • ZTD
    ZTD Posts: 24,327 Forumite
    Well we shall see how far the Government will go in order to forstall a recession. We may see a Keynesian liquidity trap in our lifetimes... ;)
    "Follow the money!" - Deepthroat (AKA William Mark Felt Sr - Associate Director of the FBI)
    "We were born and raised in a summer haze." Adele 'Someone like you.'
    "Blowing your mind, 'cause you know what you'll find, when you're looking for things in the sky."     OMD 'Julia's Song'
  • In_Search_Of_Me
    In_Search_Of_Me Posts: 10,634 Forumite
    wth is a keynesian liquidity trap when its at home?!!
    Morning all! Now please stop talking of jaffa cakes - some of us need to loose some weight! As for cherry flavour...yum - what would happen if they did a choc orange flav!!
    Hop you have a good day & thats its an improvement on yesterday at least!!
    Nerd no 109 Long haulers supporters DFW #1! Even in the darkest moments, love and hope are always possible.

  • duchy
    duchy Posts: 19,511 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Xmas Saver!
    In_Search_Of_Me wrote: »
    wth is a keynesian liquidity trap when its at home?!!

    If you really want to know :)
    http://en.wikipedia.org/wiki/John_Maynard_Keynes
    I Would Rather Climb A Mountain Than Crawl Into A Hole

    MSE Florida wedding .....no problem
  • boredofbeingathome
    boredofbeingathome Posts: 15,657 Forumite
    Impressive, but such convoluted language- to explain it.
    Blackadder: Am I jumping the gun, Baldrick, or are the words 'I have a cunning plan' marching with ill-deserved confidence in the direction of this conversation?
    Still lurking around with a hope of some salvation:cool:
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