Scarborough BS warns lenders must adapt

Carrier says lenders are going to have to offer more “out of the box” solutions in the future to enable potential customers to get onto the housing ladder or take the next step up. His comments come as the Scarborough reports group pre-tax profit were up 10%, to £5.6m for the year ending 31 March 2006, with group mortgage balances up 7%, to £1.35bn. Carrier states: “In modern Britain, increasing levels of personal debt are frequently being taken for granted. Young people are borrowing an average of £20,000 to fund higher education costs before they even start work, and continuing house v...