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Expat Investor : July August 2008
Alan Bougourd, Managing Director with Skipton Guernsey explains the causes of the credit crunch and its impact on expat savers. Don’t let the credit crunch eat into your savings expatinvestor.com 14 EXPAT INVESTOR ? July/August 2008 QUOTE, UNQUOTE Not a day now passes, it seems, without a major banking name being drawn into a discussion regarding the credit crunch and what this means for its customers. contend with increased deposit requirements and higher interest rates on their home loans. But what does the credit crunch mean for savers offshore? The so-called credit crunch is often blamed on the fact that the big banks and finance institutions have apparently stopped lending to each other in the wholesale Up to now, most of the pain in the UK has been borne by existing mortgage customers, who have seen their interest rates rise, and by new borrowers, who have had to markets, or at least they have become far more cautious in their approach. The result is that conditions have become tougher and the cost
May June 2008