Less obvious credit outlets also vulnerable to the crunch
The national credit squeeze will affect all areas of the personal finance markets, and is anything but exclusive to the loan and mortgage arenas.
According to one financial expert, any company which offers credit to its customers either through its own facilities or a third party will be looking to curtail its level of defaults and potential risk over the coming months. This could essentially limit access to and cover a wide and varying range of possible outlets including the likes of furniture chains and electronic retailers as well as the more obvious loan and mortgage providers.
The most likely type of customers to be affected will be those people who have had a degree of bad credit registered against them in the past such as the odd missed payment, however, individuals with a clean credit profile are likely to remain unaffected or at least for the time being.
The credit crunch and the effects there of are slowly creeping into the lives of many British Citizens, and even those people who consider themselves to be exempt and unaffected by the dreaded squeeze, may soon find it rears its ugly head where they least expected it.
