Banks Who Bleed Us Dry

Daily Mail (London), September 22, 2010 | Go to article overview

Banks Who Bleed Us Dry


Byline: THE LAST WORD By Tony Hazell

BRITISH borrowers are being bled dry by banks seeking to boost their balance sheets. There has long been a suspicion that banks are pulling the wool over our eyes.

How can they justify charging 4 pc for a fixed-rate mortgage when Bank of England base rate is 0.5 pc and they pay just 0.23 pc on our savings? Banks have attempted to convince borrowers that mortgage rates are somehow the result of the costs of their borrowing. But the truth is revealed in research that we publish today. Our mortgages offer the worst value in the Western world.

The gap between bank base rate and the mortgage rate is vastly greater in the UK than in U.S., France and Germany. If banks in other countries can run tighter ships and lend at lower rates, it is time to ask: what is preventing ours from doing the same? Is it regulation, as they would have us believe? Or is it, as seems more likely, that they are both badly run and see homeowners as a handy crutch on which to lean their ailing businesses? It's little wonder that mortgage lending is at a 10-year low.

Banks are perpetrating a massive con trick on borrowers and it is difficult to avoid the conclusion that our mortgage market is no longer working.

EVIL is a word that should be used sparingly -- held in reserve for the most malicious behaviour by those who form the detritus of our society. I have used it twice previously in 12 years of writing this column.

But there are those for whom it is the only adequate description. Today we expose the behaviour of an abhorrent band of low-life for whom the word evil is the only appropriate description.

They are the men and women who visit elderly people in their homes and pressure them into buying mobility aids at vastly inflated prices.

These people are without morals or scruples. They would cheat their own mothers, so yours does not stand a chance.

Trading standards departments around the country are cracking down on these bandits -- and Money Mail stands shoulder to shoulder with them. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Banks Who Bleed Us Dry
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.