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One is the limited internal market in the United Kingdom is the financial situation of some mortgage lenders, after rating agency Fitch.
Their research revealed that the housing market in the United Kingdom is set up so that the trend is demonstrated by lower prices, but do not expect to see a collapse in house prices.
Director of the London-based Fitch's Financial Institutions Group, Alexander Birry, warned that a weakening housing market increases pressure on Britain couldMortgage lenders that may consider themselves as a downgrading of credit rating, making it more expensive for them to borrow money. However, a rebalancing of the market, is likely to offer funding opportunities for those with the best access.
Birry said: "Evaluation of actions may occur if a provider expects to have more shows vulnerability to a weakening housing market than at present. In particular, the fulfillment of certain non-residential mortgages in line with a more difficultMarket is an element of uncertainty. "
Banks are meant to find it increasingly difficult to offer competitive mortgage rates, when forced to spend more on their loans, the deterioration of the pressure on credit again, but downgrades are not expected in all areas of credit from the United Kingdom .
Alliance & Leicester has announced, but they are attached to the letter, the vast majority of new mortgages to quit after the losses of 150 million pounds, following a recentCredit crisis. Its shares also fell by 2.5 percent reported a record 479.5 pence at once.
The lender also showed that the supply of 125 per cent mortgages because of declining property prices so that many borrowers that their home value rises, the financial difficulties were felt in the end.
The packages, which usually looked out a mortgage with a loan worth 95 per cent, another 30 percent were abandoned as a personal loan, because"Alliance and Leicester is a prudent and responsible lender with PlusMortgage successful targeting of high-quality candidates," said his spokesman, Stephen Leonard.
In other parts of the continent, the Irish property market has also weakened its Irish banks as mortgage lenders are more exposed to the property sector more than others in Western Europe. This is vulnerable to serious shortcomings in the field. Fitch analyst Matthew Taylor, warned: "If the IrishThe economy has achieved a "soft landing", in relation to the most likely scenario, then the majority of Irish institutions should address the challenge without the need for a measure of customer. May be required in case of serious crisis of economic growth, a wider range of measures to the satisfaction of the Irish banks. "
In Spain, house prices grew strongly after a housing boom in recent years. This is particularly weak on the left of the creditors, when the banks clearincreased risk of their homes. However, Fitch has concluded that there is more pressure on some of the savings banks, but to see that the largest funder wider.
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