Archive for 'Mortgage'
Head of FSA: Times of cheap credits have ended
12 March 2008The head of the British Financial Services Authority, FSA, has declared the ending of era of cheap crediting in the British banks, predicting, that creditors will avoid complex financial products for the benefit of old-fashioned banking, based on relations.
Such comment from Hector Sants has appeared before the publication of internal check concerning the nationalization and [...]
4 from 10 Americans worry about the debts
6 March 2008At the end of February Bankrate, Inc. has published results of the national poll, which have shown that 61 % of Americans have non-mortgage debt. 64 % of respondents-debtors have recognized that the debts for them are an occasion for anxiety.
The main results of the poll are the following:
- The attitude of Americans to [...]
HSBC’s income has increased despite of the mortgage crisis
5 March 2008Net profit of the British bank group HSBC in 2007 has made 24,2 billion dollars, informs BBC News. This result is 10% more than results of 2006, when the bank declared an income in 22,08 billion dollars. At that losses of HSBC because of the mortgage crisis in 2007 have made 17,2 billion dollars.
According to [...]
British mortgage has unexpectedly became inaccessible (Part 3)
28 February 2008In Britain real estate boom in 2005 began just from decrease in the key rate by 0,25 %, however now, in analysts’ opinion, such scenario can’t happen.
Other experts, contrary to Halifax’s forecasts, do not exclude the further cut in prices (at a level of 5-8 % this and next years) as many house [...]
British mortgage has unexpectedly became inaccessible (Part 2)
27 February 2008The average price for real estate has grown for 10 years by 182 % - from 70 thousand to 197 thousand pounds sterling. The peak of rise in prices has fallen at last summer when Halifax has predicted a 11,4-percent annual gain. Now Halifax estimates annual inflation of prices for real estate in 4,5 %, [...]
British mortgage has unexpectedly became inaccessible (Part 1)
25 February 2008Decline in prices for the British real estate in January appeared less, than feared participants of the market. For three months (November - January) decline has made 1 %. But the main danger is that only one of four borrowers can now pay the credit.
Nevertheless the largest British mortgage company doesn’t think the situation to [...]
Morgan Stanley will close the British mortgage unit
20 February 2008In view of market conditions worsening Morgan Stanley will dismiss 1000 workers in its mortgage company and will close British sub-prime unit, which the bank has bought more than two years ago.
The American investment bank accuses “disorders” in the mortgage markets of staff reduction in the USA and Great Britain, including closure of Advantage Home [...]
American banks will rescue bankrupt house owners
15 February 2008The largest American banks will support insolvent debtors under who can’t pay back mortgage credits, informs Bloomberg referring to a source in one of the banks. Project Lifeline, which should enable insolvent debtors to keep their houses, includes Bank of America, Citigroup, Countrywide Financial and JP Morgan Chase.
The idea has been approved by US [...]
Analysis of the crediting situation in the USA - results are depressing for borrowers.
13 February 2008More than half of American banks have essentially toughened control of borrowers’ credit status, both natural persons and organizations.
The crisis situation, which has begun from mortgage crediting, gradually spread to other areas of crediting. Banks have toughened requirements for consumer credits and granting credit cards. Commercial credits are loaned on a limit of care. As [...]
Russian ВТБ bank has increased term of mortgage crediting to 50 years
11 February 2008The maximal term of mortgage credits loaned by the bank has been increased to 50 years, is informed in the press release of the bank. Interest rates will be simultaneously increased.
The increase in term of crediting is addressed to the young potential borrowers, whose age does not reach 30 years. Increase in term implies rise [...]
