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House Price Crash Forum

Will The Us Credit Crunch Reach These Shores?


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...if you look back in the thread I was talking about the UK and you suddenly started talking about Greenspan...well that's OK because G Brown did the same thing here.... lowering interest rates to create a boom....... :lol::lol: and repeating the '88 path to bust for the speculators and others ....history repeats......nothing to do with Al Quaeda...just Chancellors that can't read markets.... :o:o

Errr?

We are also fighting the war.

We are "shoulder to shoulder".

We have implemented this policy also. Didn't you see Eddies George explaining why?

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Errr?

We are also fighting the war.

We are "shoulder to shoulder".

We have implemented this policy also. Didn't you see Eddies George explaining why?

Indeed - remember 67, and what happened to sterling the last time we didn't leap into bed with the Yanks?

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Seeing what is going on in the money markets at the moment can someone explain to a economics ignorant like me if and how this will affect the Great British Public in getting a mortgage or any other type of loan.

Am I right in saying that UK Banks are going to find it much harder to repackage a mortgage and sell the debt on so we are looking at higher rates and stricter standards of lending? If so what sort of time frame would we be looking at before we see any action happening here?

According to this Independent article the answer is yes.

Beware: this crisis has a long way to play out. And I am sorry to report that the earthquake in credit may come home to you and me only too soon. Anyone whose fixed-rate mortgage is coming up for renewal had better take a look at what is happening to the loan terms on offer. Basically, banks are struggling to match revenues to demand. And with the Bank of England having been a little behind the curve in raising rates, help is unlikely to come from that quarter for a while, as the MPC waits for inflationary concerns to subside.

The next year could see a real squeeze on UK homeowners. It isn't just the German bankers who should be feeling dyspeptic.

http://news.independent.co.uk/business/com...icle2836147.ece

Personally I'm surprised it has taken the media so long to connect what is currently going on in the international debt markets and UK mortgage rates. If this is a wholesale re-pricing of risk there was no way UK housing would avoid the effects.

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