Mortgage Lending Crunch Time

At least 2 major lenders, or so I hear, have stopped issuing mortgage cheques as they re-assess their ‘internal procedures’ in the wake of the solicitors debacle in the past few weeks.

This will have a profound effect on the market if it continues , a technical ( and TOTAL) credit crunch if you will. They are 100% illiquid for the moment. … qqqx=1.asp

As they open their purses agin they will be a lot more restrictive. A lot of the fault is that of the incompetent and slow Land Registry. If the government really wants to prop up the housing market today it would be wise to fix the Land Registry rather than dabble with Stamp Duty

Further analysis in todays Post of the undertaking mess . … qqqx=1.asp

But the boss can bully the junior in his office !!

Well, the banks were already tightening up on their mortgage offerings. This whole mess will only serve to compound that.

Does anyone think that over-stretched developers might be the next to feel the pinch?