Saturday, 23 June 2012 07:15
‘Homeowners and businesses faced the threat of higher borrowing costs last night after Britain’s biggest banks suffered humiliating downgrades to their credit ratings.
Barclays, HSBC, Royal Bank of Scotland and Lloyds Banking Group saw their debt scores slashed amid growing fears of a meltdown in the eurozone. Several lenders including Halifax, part of state-backed Lloyds, have already ratcheted up their mortgage rates as their own funding costs have increased, piling misery on cash-strapped families.’
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