Banks and Building Societies are continuing to tighten the purse strings and reduce their exposure to risk. By cherry picking only the most suitable customers who neatly fit their strict criteria mortgage lenders are trying to safeguard their future and improve their own creditworthiness. Abbey are making it tougher for applicants by assessing their affordability [...]

A £300BN rescue plan has been laid out to help save the UK financial sector and improve lending woes between banks. The details as yet are slightly vague but in short the Government intends to insure banks against bad or toxic debt and provide cash in return for assets. The ‘Credit Crunch’ has been caused [...]