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| Credit Crunch Bank Reviews |
| One unfortunate consequence of the credit crunch is the new style “Bank Reviews” that business customers are starting to experience from a number of banks. |
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| Take Advantage Of Interest Rate Cuts |
| With the Bank of England cutting rates to levels not seen before it is tempting to sit still and enjoy low payments in this difficult marketplace. |
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| Credit Crunch Bank Reviews |
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One unfortunate consequence of the credit crunch is the new style “Bank Reviews” that business customers are starting to experience from a number of banks. The banks have a problem where they have borrowed over a short period of time to lend in many cases over a longer period of time. The problem for the banks is that when they come to renew their facilities they are paying a lot more for the money than they have lent it out. They are also trying to reduce the amount that they borrow on the money markets and rely more on their depositors. In addition they have experienced a lot of losses and write downs.
This means they either want customers to start paying more money in interest and fees so they can rebuild their balance sheets or they actually want the customer to leave and refinance so they can reduce their money market borrowing.
Some banks are actually telling their clients they no longer want to lend to them and giving them a timeframe to leave. With other customers they are trying to achieve the same result by raising the fees and interest rate to such a level they force them to go.
It is not uncommon to see interest rates increased by between two or three percent. If you have suffered a “recent bank review” please contact us to see if we can help. |
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