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Lenders warn of massive mortgage crunch

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Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Kohoutek wrote: »
    I didn't make any house price predictions last year

    You mean your ID didn't :p merely jesting icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    Thrugelmir wrote: »
    Therein lies the problem. Bank debt is owed by Consumers and Corporates.

    Contract credit to quickly. Economic growth falls. Double dip recession.

    Interesting times ahead.

    For those debt free though. Plenty of opportunities will arise. As demand for cash will be high.

    Thrugelmir, essentially my feeling agrees with you - though I am not educated in economic theory as well as some, or enough to put it as eloquently as you have.

    We're in for an interesting "on a knife edge" couple of years methinks, with whoever has authority desperately trying to avoid the double dip. Of course, they also have to be careful not to be too cautious...

    I'm particularly interested in the last part of the post I quoted. Can I ask if you have a time frame in mind? & how you see this realising itself?
    StevieJ wrote: »
    You mean your ID didn't :p merely jesting icon7.gif

    Funniest thing I've read on here since a certain ruggedtoast post...:rotfl:
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • kmmr
    kmmr Posts: 1,373 Forumite
    edited 5 February 2010 at 1:30PM
    Thrugelmir wrote: »
    The bulk sits on LloydsHbos balance sheet. Around £165 billion. (Another reason the banks can't fail. :eek:). As the taxpayer is in essence underwriting this .

    Incidentally - on what basis have you estimated the amount being held by Lloyds HBOS? As far as I know this information isn't on the BoE website, nor in the published accounts.
  • Batchy
    Batchy Posts: 1,632 Forumite
    kmmr wrote: »
    Incidentally - on what basis have you estimated the amount being held by Lloyds HBOS? As far as I know this information isn't on the BoE website, nor in the published accounts.

    I think he answered, and couldnt even be more specific... on the Lloyds HBOS balance sheet... lol
    Doh

    Doesn't it show CASH on the balance sheet then... or...
    Plan
    1) Get most competitive Lifetime Mortgage (Done)
    2) Make healthy savings, spend wisely (Doing)
    3) Ensure healthy pension fund - (Doing)
    4) Ensure house is nice, suitable, safe, and located - (Done)
    5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
  • kmmr
    kmmr Posts: 1,373 Forumite
    Batchy wrote: »
    I think he answered, and couldnt even be more specific... on the Lloyds HBOS balance sheet... lol
    Doh

    Doesn't it show CASH on the balance sheet then... or...

    Not even cash - originally it would show a rise in T-Bills. The SLS is technically a collateral upgrade trade. Although T-Bills are virtually cash, they aren't actually cash!

    To be fair it would also show as secured borrowing, although I don't think the underlying collateral used for the borrowing is listed.

    I suppose there may not be too much secured borrowing that far out.

    Anyway, I am seriously interested in the answer. I had thought this wasn't information that was in the public domain.
  • kmmr
    kmmr Posts: 1,373 Forumite
    Hmm... maybe in related party transactions... as the government is now techincally a related party to Lloyds.
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