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Thread: Subprime UK Style?

  1. #1
    duane1x's Avatar
    duane1x is offline Member
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    Default Subprime UK Style?

    Feeling Vulnerable: Britain's Coming Credit Crisis - International - SPIEGEL ONLINE - News

    "Steep housing prices and a dependence on financial services make its economy vulnerable. Some predict a blow to credit might even be worse -- much worse -- than in the US."

    So I had thought this was more of a US phenomenon, but apparently not. The "no doc" loan here became the "no-cert" loan in UK. I still think it originated here, though I'd be glad to be proven wrong.

    And is this the case in NZ as well?

  2. #2
    Taffy's Avatar
    Taffy is offline He who shall be ignored
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    You can get low or no doc loans here, but usualy only if it's a secured loan such as a mortgage. There's not all that many subprime lenders, but more and more are appearing.
    Taffy

    The greatest mistake you can make in life is to be continually fearing you will make one.

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