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Guest wrongmove

Deutsche Bank Pulls U K Subprime Loans

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Guest wrongmove

Deutsche Bank pulls UK subprime loans

"A wing of German giant Deutsche Bank yanked its UK sub-prime mortgages from the market, adding to fears of a worldwide credit squeeze.

DB Mortgages withdrew the full range of loans it offers to homebuyers with poor credit records, informing mortgage brokers it wants to reconsider the interest rates it demands.

The news can only compound concerns that appetite for high-risk debt is evaporating amid turmoil on world credit markets.

It is particularly worrying because the malaise in subprime mortgages has thus far been largely confined to the US, where defaults are soaring and the property market is in a recession.

DB Mortgages has only been operating for a year, yet has written about £1bn of loans in the UK.

Bill Dudgeon, its managing director, said he expects to put sub-prime products back on the market this month. Meanwhile, his firm is still offering less risky loans such as buy-to-let. ............"

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Guest vicmac64
Deutsche Bank pulls UK subprime loans

"A wing of German giant Deutsche Bank yanked its UK sub-prime mortgages from the market, adding to fears of a worldwide credit squeeze.

DB Mortgages withdrew the full range of loans it offers to homebuyers with poor credit records, informing mortgage brokers it wants to reconsider the interest rates it demands.

The news can only compound concerns that appetite for high-risk debt is evaporating amid turmoil on world credit markets.

It is particularly worrying because the malaise in subprime mortgages has thus far been largely confined to the US, where defaults are soaring and the property market is in a recession.

DB Mortgages has only been operating for a year, yet has written about £1bn of loans in the UK.

Bill Dudgeon, its managing director, said he expects to put sub-prime products back on the market this month. Meanwhile, his firm is still offering less risky loans such as buy-to-let. ............"

This is the real start of the UK unwind..

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Deutsche Bank pulls UK subprime loans

"A wing of German giant Deutsche Bank yanked its UK sub-prime mortgages from the market, adding to fears of a worldwide credit squeeze.

DB Mortgages withdrew the full range of loans it offers to homebuyers with poor credit records, informing mortgage brokers it wants to reconsider the interest rates it demands.

The news can only compound concerns that appetite for high-risk debt is evaporating amid turmoil on world credit markets.

It is particularly worrying because the malaise in subprime mortgages has thus far been largely confined to the US, where defaults are soaring and the property market is in a recession.

DB Mortgages has only been operating for a year, yet has written about £1bn of loans in the UK.

Bill Dudgeon, its managing director, said he expects to put sub-prime products back on the market this month. Meanwhile, his firm is still offering less risky loans such as buy-to-let. ............"

They won't be happy when they cant roll 'em up and sell 'em on!

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Guest d23
Bill Dudgeon, its managing director, said he expects to put sub-prime products back on the market this month. Meanwhile, his firm is still offering less risky loans such as buy-to-let. ............"

would be interesting to see how much higher the rates are when they come back

p.s. what are you doing posting this bearish news wm? surely you're an EA troll? :rolleyes:

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