In an effort to rise above from the impact left by the economic crisis, UK's banks are now further making the rules and regulations more strict for the loan aspirants. This is being done, in order to prevent the flow of capital into the hands of common public, which could ultimately lead to increase in their buying power. Another chief reason that is being cited behind this move is to save the prices in the housing sector from seeing any further slump.

Quite interestingly, housing sector until now has possibly gone through the worst phase in the entire history of UK. For Marks & Spencer, their clothing and food along with the housing group have reportedly shown a drop of 6.1 percent in the second-quarter core sales that was put in front of public on Thursday, which is easily their worst performance till date. This figure has certainly sent alarms across the whole UK economist syndicate, after all for a strong economy, as this definitely augers as a decently ominous sign.

With the cost of fuel and food on the rise, it is becoming increasingly difficult for the citizens of UK to meet their daily expenses, with every passing day. With the laws for availing home loans, personal loans products getting more stringent, this incident has possibly added to the woes of the citizens of UK.

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