Liberal Democrats in Business

News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum

Lib Dem Vince Cable MP Comments on Increasing Mortgage Multiples

1.51.57pm UTC (GMT +0000) Wed 14th Apr 2004

The Liberal Democrats released figures today showing that one in ten borrowers has taken out a loan worth four times their salary or more. Vince Cable MP, Liberal Democrat Shadow Chancellor, said: "This type of lending by banks and building societies is simply recklessly fuelling the housing boom."

"Many of those borrowers will find themselves in negative equity when the housing market turns down and interest rates rise. "Gordon Brown must urgently address the failures that have allowed banks to lend irresponsibly and fuel unsustainable levels of debt."

Bookmark this story at: [del.icio.usdel.icio.us [DiggDigg [FacebookFacebook [LibDigLibDig [redditreddit [StumbleUponStumbleUpon
[Print this news story]
[Previous news story]: Name And Shame Big Firms Who Pay Late - Cotter (Tue 13th Apr 2004).
[Next news story]: Nearly 100,000 Manufacturing Jobs Lost In A Year (Fri 16th Apr 2004).

Related News Stories:

Fri 10th Nov 2006:

[Irresponsible Lending Increasing As Rates Rise - Cable]

Fri 21st Oct 2005:

[GDP Figures Show Chancellor's Problems Increasing - Cable]

Fri 18th Jun 2004:

[Lib Dem Brian Cotter MP Comments On Ofcom Report On 118 Directory Enquiry Services]

Thu 4th Mar 2004:

[Lib Dem Brian Cotter MP Comments on NAO Report Into Business Regulations]

Thu 5th Feb 2004:

[Lib Dem Malcolm Bruce MP Comments On DTI Admission That Urban PO Closures Are Flawed]

Printed and hosted by Prater Raines Ltd, 82b Sandgate High Street, Folkestone CT20 3BX.
Published and promoted by Liberal Democrats in Business, 4 Cowley Street, London SW1P 3NB.
The views expressed are those of the party, not of the service provider.