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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Now Is The Time To Apply For A Homeowner Loan, Mortgage Or Remortgage

There has been little good news on the economic front this week. What with The Northern Rock announcing that their losses have risen by 24% to the staggering sum of about £724,000,000 compared to a loss at 30th. June, 2008 of £585,000,000 approximately.Theier bad debts have incresed threefold. The Government takeover in February has done nothing so far to alleviate the woes of the first fully nationalised building society. Their loan, mortgage and remortgage debts are still toxic, and these woes show no sign of improving. Following closely on the heels of The Northern Rock's bad news, came the announcement from Lloyd Banking Group that they have suffered a half time loss of £4.1 billion which although substantial is under the £5 billion loss that the pundits predicted. Underwriting criteria must tighten up, and remember it was the careless underwring of the past that lead to the economc situation we find ourselves in. Therefore if you want a homeowner loan now or in the near future, it would advisable to apply without delay while funds are still available and before things become more and more strict. A homeowner loan is a secured loan and as such is granted at a good rate of interest. A homeowner loan can be used for almost any purpose whether it is to be used as a debt consolidation loan, a motorhome loan, a wedding loan, etc. Likewise if you are considering a remortgage or a mortgage to move house, there is no time to delay in making your application for any kind of loan.It really is a case of striking while the iron is still hot.



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