Loose lending standard are a global phenomenon
One of the most interesting things about the current credit markets is how global they truly are. Credit is truly global these days and it's interesting to find that easy credit might have been previously only regional in effect are global. For example in the United Kingdom and Scotland
mortgages have been just as easy to get as in the United States. As a result, many people bought more home than they could afford and as a result of rising interest rates are now looking
remortgage an existing ARM. Just as here in California
secured loans against the homeowners residence are often quite popular as one way to consolidate debt.
In the United Kingdom, credit lending standards are already started to tighten up. Recent moves by the Bank of England have signaled markets to tighten up their lending standards. This is perfectly natural in today's environment. What's interesting of course is how the Feds action here in the States seemed to signal to global credit markets that it was time to tighten lending standards.
This is a sponsored post.
Labels: debt, debtconsolidation, homeequitylineofcredit, remortgage, securedloans
