Banks must make amends
WHILE international attention has been focused on the euro, a major financial crisis has been brewing up at home.
The Financial services Authority has warned that an interest rate rise risks causing real dangers to homeowners unable to pay their mortgages: this issue must be tackled now.
With a risk of a second recession and warnings that we might be entering another depression, it is vital that Britons should be able to safeguard their homes.
And while some undoubtedly over- borrowed, the fault can also be laid at the door of banks, tempting customers into unsustainable levels of debt. If and when problems do begin to surface, the banks must help their customers in every way before repossessing. They have never shown a whit of remorse over their reckless behaviour – this would be a start.