Banks Continue With Repossessions

November 21, 2008

11,300 homes were repossessed in the third quarter of this year which represents a 12% increase, and is further evidence that banks will do as they please regardless of what Government says. Interest rate cuts are not passed on to mortgage customers and small businesses are not given loans or overdraft facilities in troubled times but we as taxpayers are all expected to bail out troubled banks because it is apparently the right thing to do.

I wonder how those people who have lost their homes feel when they learn that some of the tax they have paid has gone to pay their bank to keep it afloat which in turn has repossessed their homes?

We wait for the pre-budget report on Monday to see what measures the Chancellor will introduce to help struggling homeowners!