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Has the financial market lost the trust factor of consumers?

There have been significant changes in the UK financial sector over the last 18 months that have ultimately seen more and more consumers struggling to survive while taxpayer funding is used to bail out the banks. We've also seen a massive increase in the number of homes repossessed and debt collectors are becoming commonplace across the UK as banks look to call in monies due. So has the financial market in the UK lost the trust factor of consumers?

There is no doubt that the former close relationship between consumers and their banks has been stretched to the limit as has the relationship between homeowners and their mortgage providers. When the UK economy was flying high there were no issues and no problems between these parties but once the economy turned and profitability was under pressure we saw a parting of the ways. Many taxpayers are also furious that billions upon billions of pounds of their money has been used to bailout the banks while the banks are unwilling to increase liquidity in the market place and continue to charge relatively high interest rates on various financial products.

To many people, UK taxpayers have bailed out the sector, and the government to some extent, but have yet to feel any benefit themselves.

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