Quote:
Originally Posted by richw
It is more than supply and demand.
Look at the willingness of banks to lend money. Often too much, to people who cannot afford it.
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Yes that is an historic problem, banks are greedy. When I bought my house 21 years ago I rung Abbey National and said how much I needed to borrow, I am self employed and my accountant was ready to back this up. My solicitor rung me 3 days later to tell me he had the money when needed, no checks just sent the money.
Now the opposite, I was looking at a new van earlier in the year, I need about £20k. They want guarantees and insurance that adds to cost of the loan, I am going to stick with my old van.