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Credit Crunch UK Money Saving Tip
Save money on your life insurance. If you took it out more than 2 years ago. The Chances are you can now get a more competitive quote and save money each year...More
Cedit Crunch UK Ways To beat The Credit Crunch
Read The top tens tips on how to beat the credit crunch...More
Credit Crunch UK Help Is Your Mortgage with a Sub Prime Lender
Rates with sub prime lenders have increased dramatically over the last 8 months its time you...More
Credit Crunch Breaking News:
UK first-time buyers hit by mortgage crunch according to CML More
Credit Crunch Uk Keeping you up to date with the latest Credit Crunch News
Credit Crunch Explained:
In the Summer last year the credit markets started to get worried about the fall-out from the sub-prime market in the US. Most of these sub-prime mortgage were packaged up and then sold on as structured products to financial institutions such as banks, insurers and hedge funds. Now the holders of these structured products are suffering large losses because there is a rise in mortgage arrears with these sub-prime loans.
This has happened because in the US, interest rates are rising, house prices are falling and people can't refinance as quickly as first thought. The major factor influencing the money markets is that if these sub-prime loans are doing badly then there is a risk that no one wants to buy structured products of any type. And that's one of the main reasons why the equity markets are falling.
The way this works, is that the banks will initially provide a bridging loan type of financing, but then ultimately look to syndicate the debt away to other banks or hedge funds.
The short term remains very uncertain given we will get more headlines on banks' exposure to sub-prime in the weeks ahead.
We have all seen what happened to Northern Rock last year and now Lenders are even more cautious in the uk to lend new mortgages to consumers. Please look at our news item What are lenders lending for more information.
Credit Crunch Doesnt Halt Cosmetic Surgery
Britons might be feeling the Global pinch of the Credit Crunch, however despite the crunch they are still ready to pay ....More
First Direct Opens Doors
New mortgage customers will once again be able to apply for a home loan through first direct. First had frozen new applications because it was unable to cope with such high demand....More
UK house prices have recorded their largest monthly fall
According to a report from the BBC House Prices......More
Nationwide Has Reported That
Lending is down by 40% in the last year...more
More Bad News From Bank Of England
The Bank Of England have reported ...more
The BBC Has Reported Thats
People want property prices to fall......Read More
Your Not Alone
You wont be suprised to hear that you are not alone if you are struggling to keep up repayments....more
Middle Class Debt Epidemic
The Middle Class In Britain now being hit by devasting debt crisis. More and more middle class are seeking debt help.....Read More
Lenders Tighten Criteria
Mortgage Lenders are reducing the amount of money they are willing to lend to us. For an example last year it was possible to buy a property without a deposit(100% mortgage). Now with most lenders you will need at least 10% Deposit. For more information on what lenders are lending click here
Mortgage Lending Hits a 33 year Low
Mortgage lending is at its lowest level for 33 years, according to figures from the Council of Mortgage Lenders (CML).
The total number of mortgage lent in the first quarter of this years is just 142,000 This is the lowest quarterly figure since 1975.
The CML predicted lending and house sales would fall even further in the next few months because of the credit crunch affecting the banking system.For more info click here
Lending May Not Return back to Normal until 2009
At The Manchester Mortgage Expo Being held on 14th and 15th of May The Council Of Mortgage Lenders revealed click here
House Prices Are they Set to fall
Many believe that we are going to see a fall in house prices over the next 2 Years.... more
