The liquidity crisis has seen them increase their margins and I hear one large lender is to cut proc fees for no reason other than it can.
What other industry manages de-mand by offering overpriced products and delaying application times? The big banks’ collective contempt for their lifeblood beggars belief.
Banks have filled their boots in good times and bad – remember when they dumped sterling and made a fortune knowing that the BoE would have to buy it to protect the value of the pound?
Strangely, those same City institutions now find themselves unable to get hold of enough sterling. It seems rather perverse.