Thursday, May 24, 2007
Reginald, Those Accounts You Filed...
Times UK Business: Uk's biggest sub prime lender set to accpet cut price bid
What have we here? I do suppose that those accounts are a true and accurate reflection aren't they?
Posted by orwell @ 11:41 AM (249 views) Add Comment
8 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Orwell said...
"Britain’s biggest sub-prime mortgage lender, Kensington Group, which specialises in home loans to people with poor credit records, warned investors yesterday that it was about to recommend a takeover at less than Tuesday’s closing price of 560.5p.
The shares, which have dived from £12 a year ago after several profit warnings, plunged another 13 per cent or 71½p to 489p, valuing the company at just £257 million....
Ms Hutchinson has denied that the fallout in the US sub-prime lending market is spreading to the UK. Kensington’s latest figures, to the end of February, showed that the proportion of customers in arrears had actually dropped slightly in the past year, although it was still about one in ten...."
WELL ONE WOULD WOULDN'T ONE?
"...its total mortgage book was £6.9 billion at the end of February, down from £7.2 billion at the end of November..."
AND WITH INTEREST RATES ABOUT TO GO UP TO 7.5% , OH DEAR OH DEAR ...
SHOULD ANYONE BUY THESE JUNK BONDS?
2. converted lurker said...
at 250mil that is giving it away...hmmm....
3. Paulos said...
I thought that we didn't have a sub-prime problem in this country? That the UK was different (supply and demand, so I hear)?
My mistake, obviously...
4. Orwell said...
Agreed...something cod piece smelling is afoot
5. Orwell said...
"...It is chaired by Peter Birch, a former executive at Abbey National..."
Aren't Scabbey involved in pyramid selling at the moment?
6. shipbuilder said...
Didn't the experts tell us that there was no sub-prime lenders in Britain?
7. Orwell said...
I am highly sceptical that those accounts will match up to the reality...
8. Orwell said...
Oh what tangled webs we weave when we practise to deceive...