The credit crunch has continued to affect consumers across the UK, with those in Scotland appearing worse off from the crisis, an expert has claimed.
According to the Thrifty Scot, the easy access to credit has been taken for granted by many of the UK`s consumers and, as a result, the problems are only starting to hit now.
The credit crunch has turned the world`s financial markets "upside down" and lenders are now having to tighten their credit criteria, with mortgage lenders in Scotland in particular battening down the hatches, the commentator stated.
He added: "Many lenders have pushed up their unsecured lending rates and have also taken some unsecured products off the market, whilst increasing stringency for applicants for their remaining unsecured loans."
Recent research by Moneyfacts found that 40 per cent of mortgage products have been taken off the market since last September.
