December 6, 2007
Lenders worried about the future
This is going to be a tricky time for the UK’s mortgage lenders, on the one hand due to the sub prime problem in the States they have to take more care on who they lend money to by tightening up their application processes and on the hand they are facing a fall in mortgage applications.
So not only are having to turn some people away, they are not getting as many people through the door anyhow, this is a serious problem for the lenders who are facing this down town in business.
The saving element could be a cut in interest rates, this could kick start the first time buyers market, which would lead to a rise in mortgage applications.
Source [BBC News]
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