Real Estate Investing: England's mortgage crunch will get much worse

Real Estate Investing: England’s mortgage crunch will get much worse

Today's Financial News - Posted April 4, 2008

“But according to the Bank of England’s latest quarterly Credit Conditions survey, over the next three months lenders expect to cut lending further, raise charges, and be more demanding on terms, such as hiking deposit levels, for example. So it’s little wonder that the IMF reckons Britain is one of the countries most vulnerable to a property crash.” — John Stepek

by John Stepek

Baltimore – (TFN): The credit crunch is set to get even worse.

In a week where we’ve seen some lenders pull out of the mortgage market altogether – if temporarily – and others raise interest rates substantially in the hope of putting off customers, many borrowers may be wondering how much worse it could get.

But according to the Bank of England’s latest quarterly Credit Conditions survey, over the next three months lenders expect to cut lending further, raise charges, and be more demanding on terms, such as hiking deposit levels, for example.

So it’s little wonder that the IMF (International Monetary Fund) reckons Britain is one of the countries most vulnerable to a property crash… Read on to learn more.

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