A local bank in Belfast refused a client a mortgage becauase…wait for it! He spent an average of £2 per day on Sky bet. Everything else stacked up for the mortgage application. Pristine credit report, LTV 65% and affordability, but this Bank considered that under the Government’s “Responsible Lending Policy” that this “weekly punt” showed a trend. I wonder if this had shown “The National Lottery” on his bank statement or perhaps the local wine shop would this also be considered a trend? Then again, maybe if his bank statement had shown Tesco he may have been considered to be ‘eating his salary’ and therefore not reliable enough to conduct a mortgage!!
Get real Mr Cameron, this is the sort of attitude that is stagnating and stangling our economy.
Be honest, the banks are looking for a reason not to lend. Smacks of George Orwell if you ask me……. CLICK HERE for more