Tag Archives: times of london

Refinance Difficulties Cause Decline In British Real Estate Prices

It’s hard in old Blighty to land a mortgage. This makes it hard to sell homes. Sloppy lending to people without the ability to repay caused this crisis, starting with the rapid rise in foreclosures by subprime borrowers in 2006. … Continue reading

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British Banks Keep A Stiff Upper Lip Through Mortgage Mess

David Wighton of the Times of London puts his finger on some key cultural and business differences between American and British banks. Americans are more open to admitting their needs, asking for cash, and cutting their dividends. When a British … Continue reading

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Losing Their Credit Lines Because Of Loss Of Home Value

This happened in the United States months ago. Now it’s happening in Britain. From the Times of London: Almost 600,000 people will be unable to refinance their debts this year after finding their usual lines of credit cut off, forcing … Continue reading

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British Chancellor Meets With Leading Mortgage Lenders

The Times of London reports on Alistair Darling’s attempts to halt the credit crisis. Lenders and the Labor government have become increasingly hostile over the past few weeks. The prime minister has criticized lenders for not passing on interest rate … Continue reading

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Mortgage Crisis Attracts Sharks

The Times of London says that with millions of people affected by the credit crunch, loan sharks are moving in. While banks drop credit cards and discourage lending, loan sharks are offering liquidity but with stiff terms. However, it is … Continue reading

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What’s The Solution to the Mortgage Mess?

The Times of London reports that central banks, led by the US Federal Reserve and including the Bank of England, announced more than £100 billion worth of joint action to free up wholesale funding markets by pumping liquidity at the … Continue reading

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