The home loans of mortgages, remortgages and secured loans were very badly affected in an adverse way during the recession, and they still continue to struggle. This is far from surprising of course when it was this very sector that caused much of the actual credit crisis in the first place. The recession happened as a result of the fact that the bank and leaders of the lending institutions cared more about their own fat salaries and bonuses than they did about the firms employing them or their own clients. They happily advanced funds both in the residential and commercial sector to people who would never be in a position to pay back the funds. The underwriting for secured loans, remortgages and mortgages were very slack with self declarations of earnings prevalent for all three of these finance products. A self delaration of income means that the borrower certifies his…

October 31st, 2010
Money maker
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