Lenders pulling mortgages at last minute

jamesd

GingerBob wrote: »

Let's get the terminology right here. Generally speaking it's not their money. They are lending other people's money.

It's their money at risk, not ours. If the borrower defaults it's the shareholders of the bank that see lower profits or losses, not the people who have money in accounts it operates. The source of the money would normally be a wider range of things starting with shareholder's equity, corporate bonds, deposits and possibly sometimes government lending.

It is our money if we happen to own the shares or corporate bonds, as many of us will do through our investments, whether that's in pensions or outside. For a couple of banks we're also as UK people indirectly in the process of making a nice profit on shares we acquired on some banks a few years back.

Ltd_Company_advice

Thanks for the responses. Probably nothing at all to worry about. When I have the keys and I am inside the house then I will be happy. Then they have to try and get me out! lol.

Thanks all.