Welcome!




Expand Your Education with These Courses from
Expand your education through NAR’s REALTOR® University: A Consumer Advocate Approach to Mortgages: Course 2.
Bundle 2: CIPS Elective Courses (US Version).
Bundle 3: CIPS Institute (Non-US Version).
Negotiating Skills: Skills for Sales Success: Part Six.
Customer Relationship Building: Skills for Sales Success: Part Seven.

UK Mortgage Market Reacts to U.S. Crash

Have a comment on this article? Share on Facebook!

RISMEDIA, August 28, 2007-The Council of Mortgage Lenders stated earlier this month that because of the “structural differences” between U.S. lending and UK regulated lending the UK mortgage market would not be affected. However it has just been revealed that three UK lenders have simply pulled out of the sub-prime market without notice and this is giving rise to concerns that they may shortly be followed by main high street lenders.

First to go was DB Mortgages who have recently been followed by Unity Homeloans and Infinity Mortgages. All three lenders who play a large role in the sub-prime UK mortgage market have stated that their withdrawal is simply about “re-pricing” and that they intend to return to the market.

“I think the initial statements sent out by UK lenders council was slightly naive as a lot of the main US lenders have stakes in the UK market which means there will definitely be a knock-on effect. Hopefully the market won’t go into panic about the recent withdrawals and cause a domino effect,” said FancyAMortgage.co.uk company director Paul Giles.

FancyAMortgage.co.uk has seen an increase is user applications for a subprime mortgage quote since the US market crash which possibly means that users might be trying to ‘get in quick’ out of fear of a subprime market lending decline.

For more information, visit http://www.FancyAMortgage.co.uk.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com