Mortgage chiefs snub PM's demand

[Sweetpea]

Mortgage chiefs snub PM's demand that bailed-out banks give homeowners and businesses a break

A key plank of the Government's multi-billion bank rescue plan has been branded 'undesirable' by mortgage chiefs.

As part of today's £37 billion bailout package Gordon Brown said that banks would be expected to help struggling homebuyers and small businesses by restoring the availability of loans to last year's more generous levels.

But today the Council of Mortgage Lenders quickly warned that this might not be 'prudent or desirable'.

The confusion comes just hours after the Government announced plans to part-nationalise three of the UK's biggest banks by pumping £37 billion of taxpayers' money into RBS, HBOS and Lloyds/TSB.

In a humiliating deal for the banks, RBS agreed to accept £20 billion from the Government, HBOS £13 billion and Lloyds TSB £4 billion.

Mortgage chiefs snub PM's demand that bailed-out banks give homeowners and businesses a break | Mail Online

Did we ever think, for one tiny minute, they would?

[Churchill]

When the systemic problem of the credit crunch is bad debt, why would taxpayers want their money punted out in the form of loans to compund the problem????????????????

He just wants to reinject some of the 'feelgood free money' factor that Bliar relied upon to win another election.

Low interest rates are a good thing are they? lol!

My savings are depreciating because the interest rate is on par with their bogus inflation figures, and lower than real inflation.

[Haqa]

What do the taxpayers have to do with what the government does with our money?

H.