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Imf Fears Over Britain's Sub-prime Market

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It added that Britain's market looked less precarious than America's with, for example, the average combined loan-to-value ratio in the UK at 76pc, compared with 85pc in the US.

Although measured, the comparison will cause major jitters in the UK, which many have assumed for some time to be less vulnerable to a housing slowdown than the US. Although Britain's sub-prime sector is thought to represent only 5pc of the market, compared with 10pc in the US, house prices are estimated to be significantly more overvalued in the UK.

i think its more than 10% in this country.

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Loan to value ratio is misleading. If the value drops the loan to value ratio increases.

UK subprime will make the US subprime look like a minor journal entry in an accounting ledger.

Well we should find out soon enough with many mortgage rates resetting this month. If the market does not turn next year following mortgage resets and supposed credit crunch then it is solid.

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