It's Not Just Lenders Who Must Act Responsibly Home Ownership

Summary

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JIM Spowart, head of the price comparison website Peopleschampion, was once described by Jim Crosbie, former chief executive of HBOS, as "one of the few people who can honestly claim to have changed the shape of UK banking".

Spowart founded the telephonebased Standard Life Bank in 1998, and followed it up with internet bank Intelligent Finance (IF) a few years later. So when he criticises Abbey, the UK's second-largest mortgage lender, for offering loans up to five times borrowers' salaries, his views deserve to be heard.

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It's Not Just Lenders Who Must Act Responsibly Home Ownership

Spowart says there are "dangers" in offering people such a high multiple, that borrowing s...

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