In UK, home lenders chase risk

In UK, home lenders chase risk — and pensioners

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Thu, 2019-07-04 23:03

STOKE-ON-TRENT: The framed coat of arms hanging in the headquarters of the Hanley Economic Building Society in Stoke-on-Trent depicts two squirrels in ermine robes above the motto “Save Safely, Build Surely,” which the mortgage lender’s customers have duly done for more than 150 years.

Now with Brexit looming, rock-bottom interest rates squeezing margins, and behemoth competitors cratering loan prices, “The Hanley,” as it is known in its central England hometown, is taking some radical steps.