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Is there likely to be any 'sub prime' lender casualty in the UK?
Jolanta_Nowak
Posts: 207 Forumite
The well-known Northern Rock situation apart, is it likely that there are any other skeletons still to come out of this particular cupboard?
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Paragon finance?0
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Bradford and BingleyI can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
Taxpayers (aka NuLab)0
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There were already some lenders in the UK who went bust. Others have changed their lending criteria, which is bad for subprime customers.0
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IT is going to effect anyone who has a mortgage and who is going to get a mortgage simple as thatIt is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
The thing is that no bank has yet acknowledged the UK subprime problem.
The current credit crunch is only to do with US defaulters.
Wait till UK mortgages start to go.
Then there will be quite some panic amongst UK banks and building societies.Mortgage debt - [STRIKE]£8,811.47 [/STRIKE] Paid off!0 -
UK007BullDog wrote: »There were already some lenders in the UK who went bust.
Eh? Who do you mean?Trying to keep it simple...
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The idea that this is solely an American problem is ridiculous; I dislike the way politicians are blaming our ills on the 'American subprime problem': we have our own share of blame. I think this is going to get very nasty in 2008: we are not of the woods by any means. Libor is continually spiking upwards; inflation is still a huge problem; the property market seems set for a correction (even the optimists admit so); those folk coming off fixed rates and changing to the SVR rate are in for a massive shock; and the saga that is NR still lingers on (don't rule out litigation from shareholders, which would throw another spanner in the works). Tin-foiled hats?? Perhaps not, but things don't look good. Maybe the Fed and the BofE will come to the rescue by cutting rates to zero per cent:rotfl: Deflation anyone...BLOODBATH IN THE EVENING THEN? :shocked: OR PERHAPS THE AFTERNOON? OR THE MORNING? OH, FORGET THIS MALARKEY!
THE KILLERS :cool:
THE PUNISHER :dance: MATURE CHEDDAR ADDICT:cool:0
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