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Credit Situation Worse that Pre Recession

essex web design news

According to research by Moneyfacts.co.uk entrepreneurs are finding it more difficult to gain credit now, than they were before recession hit. Risk based lending has gone up. Santander Savings also revealed that the time period between paying off one’s mortgage and retiring has gone down significantly. Earlier credit card companies were more than happy to give away cards. Now they have gone from a rate based philosophy to a risk based one. This is essentially because the rate of default has gone up. In order to support SMEs and help the economy recover the government has advised banks to offer businesses more credit.

Nick Horrocks
Nick Horrocks
Nick has been involved in website design since the very early days. He has experienced the shift in focus like few others in the industry and is one of the few who been able to move with the times. With a number of very high profile accounts under his belt including early websites for Vogue Magazine, Debenhams, Top Shop and Harrods, Nick quickly learned what worked for large organisations and their customers – a skill which has been the mainstay of his design-led work ever since.

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