Category Archives: Britain

Can You Still Get A Mortgage In The UK?

Report: Contrary to popular belief, most lenders are still lending money to new customers and re-mortgage customers. There are certain changes in lending criteria, but mortgages are still being offered. The news headlines tell consumers that mortgage lending is at … Continue reading

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England’s Credit Crunch

From the UK: The central bank’s Credit Condition report shows “expectations for house prices and concerns about the economic outlook” led banks and building societies to reduce the amount of mortgages available. Unsecured credit – the form of personal loans, … Continue reading

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Mortgage Rates To Rise In UK?

From London: Mortgage rates could begin rising again following another significant jump in the cost of wholesale funding. The global financial turmoil has caused one of the key inter-bank lending rates, three month Libor, to increase to 5.98%, up from … Continue reading

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Business Credit Drying Up

From the Financial Times: British companies are getting nervous. In recent weeks bond issuance by European companies has spiked. “For the past year, borrowers had seen the credit crunch as confined to the financial markets,” said Morven Jones, head of … Continue reading

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No Radical Solution To UK’s Mortgage Mess

From FT.com: Sir James also touched on the idea of covering mortgage lending with permanent government guarantees. But speaking at the inflation report press conference, the Bank governor seized upon a question on the Bank’s existing support for mortgage lenders … Continue reading

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Britain’s Struggles With Mortgage Slowdown

From the New York Times: Figures released on Thursday by HBOS, Britain’s largest mortgage lender, showed the housing market slump, which has been dragging down consumer confidence, is gathering pace. The average price of a property fell 8.8 percent in … Continue reading

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Mortgage Bailout Won’t Help Much

Here’s an op/ed from Bloomberg: The huge mortgage and housing-bailout bill signed by President George W. Bush last week won’t immediately halt 8,500 American homes a day from slipping into foreclosure. This leveraged bailout of quasi-government mortgage enterprises and strapped … Continue reading

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BBC Uncovers Mortgage Brokers Selling To Illegal Immigrants

From the BBC: The LPA trainees were sent to various companies including – CMS Mortgages – which operated from LPA’s headquarters during 2007. While at CMS Mortgages the former trainees allege that they were: On May 9th, a Somalian-born undercover … Continue reading

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The UK’s Dismal Mortgage Market

Here’s a press release: 2007 proved to be one of the most challenging years in recent times for UK mortgage lenders, as the later part of 2007 saw the mortgage sector being marred by liquidity issues. While mortgage lending reached … Continue reading

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Who’s Britain’s Mortgage King?

From MoneyMarketing:   Tuesday saw Abbey kick off the results season with news that it had grabbed a massive 25.6 per cent share of the net lending mortgage market. Lloyds TSB took a 24.4 per cent share of new mortgages … Continue reading

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