Tuesday, Sep 25, 2007
50% fall in mortgage volume on the cards
Firstrung: Mortgage volumes could fall by 50% - Advantage
Advantage, a mortgage lender owned by US investment bank Morgan Stanley, has warned mortgage packagers that the credit crunch could see their business volumes reduce by 50% unless they re-evaluate their business models...
Posted by converted lurker @ 07:44 PM (435 views) Add Comment
3 Comments
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1. New_order said...
The articles of crash/no crash have replaced the articles about sealed bids and brown envelopes. Says it all really.
2. alan said...
As my mate said to me the other day.."a lot of things are happening, its just not the sort of time folk rock up to the EA and see what's on offer".
I'm feeling that after about 8 years of turbulent buying and selling, people are hanging out and waiting to see what will happen next. It's just not the time to have someone in your housing chain drop out!
Sellers are reluctant to drop prices, FTBs can't afford the first flat, Building Societies want to hang on to money to boost their cash balances and the weather has started to get colder.
3. planning4acrash said...
Sellers are always reluctant to drop prices!!
Drove through Hackney today, tons and tons of for sale signs!!