Preparing for Another UK Credit Crunch

July 6, 2010 — Bearing in mind that no one really knows what will happen to any nation’s economy in the coming months, here Rosie Murray-West in The Daily Telegraph (UK) reports on “how to prepare for a tightening of credit conditions in Britain, whether you are getting a foot on the property ladder, already own a home, or are wondering what will happen to your savings.”
“Although economic problems may lead to a longer period of low interest rates, a second credit crunch may provide some respite for beleaguered savers. The first time round, when lenders could not borrow from each other, rates went up for savers as they were courted by banks desperate for their cash.” Continue reading…
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