There Is Anxiety In The UK Mortgage, Remortgage And Commercial Loan Sectors.

The announcement by Lloyds Banking Group that they have suffered a mid term loss of in excess of £4 billion pounds has sent shock waves throughout the loans, mortgages, remortgages and commercial loan sectors in the whole of the UK. Lloyds Group is, as you will remember, the merger of HBOS and Lloyds TSB. Why Lloyds ever bought over a bank that was completely on it's knees at the time of the merger by an absolute mountain of toxic debts seemed foolish at the time and of course even more so now. The Government were naturally very much instrumental in the merger. It was really hoped and believed that the merger would resusitate the ailing HBOS, but this miracle has not happened. It is creeking and groaning lke a very very sick animal about to breathe it's last.The banks bad debts are five times worse than they were previously and these bad debts on loans, secured loans, consolidation loans, remortgages and mortgages now stand at a total of £13.4 billion. This is certainly not chicken feed. 80% of these bad debts are due to the reckless lending of HBOS before the merger. I await with baited breathe for RBS to announce it's profits or maybe there will in fact be none. We should know the answer to this tomorrow.








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