Wednesday, 6 November 2013

"Mortgage lenders 'grooming' next generation of debtors"

From The Metro:

Bankers are 'grooming' the next generation of borrowers by advertising on children's TV, a finance expert warned yesterday.

More than one in seven parents said they had been nagged by their under-tems to take out second mortgages, MoneySaving founder Martin Lewis said.

The warning came as representatives from Lloyds, Barclays and RBS were quizzed by MPs in the Commons.

Labour leader Ed Miliband also attacked the 'tollbooth economy', calling the industry 'one of the worst symbols of the land monopoly black hole'.


Bayard said...

Bugger, beat me to it. Some wanker on the select committee was going on about "grooming" on Radio 4 this morning and I simultaneously thought, "Ah, the big banks are saying "get off our turf, we groom the punters to be our customers"", "that's one for Mark's blog" and "what utter tosh", then turned the radio off.

Mark Wadsworth said...

B, it's a test of speed, not a test of skill :-)