Sunday, Mar 25, 2007
Subprime lender points to differences between US and UK
Reuters: 15-Mar: Kensington sees strong demand
One-step-from-the-grave Kensington bullish outlook of just 2 weeks ago: "The UK market is fundamentally different to that in the U.S., with stringent regulation and high levels of checks."
Posted by confused76 @ 01:55 PM (164 views) Add Comment
3 Comments
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1. royston said...
What happens to the price of mortgage bonds (even non-sub-prime ones) when the value the collateral (i.e. ouses) backing them drops? I wouldn't like to be holding mortgage bonds in my portfolio.
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3. Wadisgod said...
A developer I know told me he sold a house to a 63yr old unemployed man. This chap had obtained a 100% mortgage for £430,000 from Kensington. He must have gone through stringent tests before the loan was approved!!!
Wait for the fan to start, it's sure going to make a mess!!!
Wadisgod.