Wednesday, May 28, 2008
We've hardly started the crash yet already UK is showing signs of distress
Guardian: Mortgages: Rise in sub-prime arrears
More than one in five borrowers on sub-prime mortgages fell behind with their repayments in the first quarter of this year, figures showed today. The proportion of borrowers on sub-prime deals falling at least 30 days into arrears - known as a delinquent mortgages - grew to 21.7% in the first three months of 2008, according to ratings agency Standard & Poor's (S&P). This was up from 19.4% in the last quarter of last year. Meanwhile, the proportion of borrowers falling at least 90 days behind with repayments moved into double digits, reaching 10.6%.
Posted by quiet guy @ 07:44 AM (418 views) Add Comment
6 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. japanese uncle said...
Don't worry. Sub-prime mortgage business does not exist in the UK.
2. Quoth said...
Wow - scary stuff. These people must be very near to or stepping over the line that starts repossession proceedings.
3. Chris said...
in a round about way its actually worse here my friend as we english love to live above our means and thats whats gonna bite us all in the ass, I wonder how many house's still receive sky TV etc under contract at the time of repossesion?
4. landofconfusion said...
Yes and in any case it's different here.
5. Distant_adz said...
Sub-prime? They all band the words round like its an accepted fact yet not more than 6 months ago there were stern denials that a 'sub-prime' even existed in the UK! What a load of b*ll*x.
6. This comment has been removed as it was found to be in breach of our Blog Policies.