Tuesday, May 13, 2008
A&L pulls a Northern Crock
Alliance & Leicester to pull £4bn from UK mortgage market
Alliance & Leicester is on course to reduce its mortgage book by 10pc this year, pulling as much as £4bn out of the market in a move that will add to the shortage of deals for home buyers. Britain's seventh largest mortgage lender revealed today that its mortgage balance fell £1.5bn in the first four months of year to £41.2bn.
Posted by uncle chris @ 01:36 PM (602 views)
4 thoughts on “A&L pulls a Northern Crock”
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hpwatcher says:
Good.
confused76 says:
Yeeeeeeeepiiiiiiiiiiiiiiiiieeeeeeeeeeeeeeeeeeeeeeeee!!!!!!!!!!!!!!!!!!!!!!!
Borisina says:
Chief executive David Bennett said “The asset quality of our customer loans continues to be strong,with medium term funds secured into the second quarter of 2009, and we continue to have a strong capital base”.
Why oh why do I not believe him?
Orwell says:
Oh dear.
And these are one of the mainstay’s of the Buy to Let market aren’t they?
Incidentally, I was listening to some lady at David Loyd the other day saying that she had to remortgage and couldn’t sell her BTL’s. I wonder how many more like her and how long it can go on….?