>>
>> Perversely the banks are now coining it again despite a shortage of capital. They are
>> taking little risk but have widened their margins considerably. The opportunity, if there ever was
>> one, for the government to rein them in, or even to collect a realistic amount
>> of tax on their profits, has gone.
>>
>> No doubt someone will be along in a minute to say it is all for
>> my benefit.
>>
Agree, but then it can't be that difficult to make money when base rate is 0.5% but typical mortgage rate is still up above 4%. I seem to recall at other times a difference of 1-1.5% between base and mortgage rate was more typical. Multiplied by the amount of mortgage lending in this country that's a lot of money.
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