RBS And Lloyds Are to Sell Off Branches.

Nov. 4, 2009 - PRLog -- There is about to be a serious and major shake up of the UK banking system, and many may say that this is not before time, as after all the banks are the main contributors to the recession that has blighted so many lives.

Who would have ever thought that the UK would have seen so many of it's citizens.thrown on the scrapheap of redundancy because of the reckless lending practices of banks and building societies with their fat cats granting loans, mortgages and commecial loans both to the private and business sectors to line their own pockets by the large bonuses that they received by granting loans of all kinds to people who could never have afforded to repay these loans?

Loans of all kinds including secured loans. were advanced to homeowners based on self declarations of income, etc.and no one seemed to care whether these income declarations were realistic or not.

Now that RBS  has announced that they are hoping to sell 318 branches over the next four years with 6,000 redundancies on the cards some of the people responsible for the chaos and redundancy  many have experienced may now get a taste of their own medicine. It must of course be said that many of these are innocent branch workers who were in no way responsible for the lax lending practices so prevalent before 2007..

Churchill and Direct Line Insurance, part of the RBS Insurance Group are also to be put up for sale.

Lloyds are selling approximately 600 branches which represents about one fifth of the totall number of their branches.Lloyds owns Cheltenham and Gloucester Building Society which is also seeking a new owner. Intelligent Finance is similarly being sold offf.

It is to be hoped that new banking blood will appear on the high streets who will offer fresh and competitive loan rates that is so badly needed to revive the flagging UK banking sector, and will bring new lower rate rate mortgages, remortgages and secured loans.

http://www.championfinance.com

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Champion Finance have been established since 1985 and they provide homeowner loans for all purposes. Whole of the market mortgages are also available.