Filed under: Federal Natl Mtge (FNM), Housing

Today’s Financial Times reports that mortgage lenders in England were warned by the UK’s Financial Services Authority (FSA) on Tuesday to brace for “very difficult” market conditions next year as at least 1.4 million homeowners face a sharp jump in loan repayments.

The FT cites three reasons why concern is growing regarding the stability of some smaller UK mortgage lenders: the collapse of Northern Rock (LSE: NRK), the slowdown in the housing market and rising lending rates between banks.

The same article quotes the FSA as prognosticating that there is “a very real prospect that conditions will worsen further into next year, in terms of both liquidity and credit risks.”

Continue reading Mortgage meltdown spills into Europe

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This entry was posted on Wednesday, December 5th, 2007 at 4:44 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.