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The Credit Crunch


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Any views on the credit crunch?

Some of the high street lenders have increased their rates blaming this, the adverse lenders are revising their rates all the time it seems.

Personally, I think UK lenders have had a more prudent lending policy but I don't know what risk they have bought in, they're probably don't even know for sure themselves causing this problem.

Surely in the UK it's supply and demand, I've never heard of anyone selling up to go rent, I mean the brits, in the last 50 years, have always wanted to own their homes. If property prices fall then I can see both first time buyers and buy-to-let investors snapping these up underpinning the market again.

I for one won't be selling out, hope I'm right...

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Just a comment, purely on a basic level as I can't get into the rocket science of the market and money lending, but medium to long term, i'm hanging in there. I'm not offloading anything, in fact I just made a prudent purchase recently. SP has great long intense threads about market discussion which are very interesting if you're in the mood, look out for edm and drbubb, they're alot of fun.

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Well, I have had an eventful day with Northern Rock!!!!!!!

Managed to get my wordly possessions out of there in time I reckon. I have had my suspicions for the last 3 weeks that all was not well so I have been depleting the account with steady transfers.

Managed to get online at 6.10am :P (just as Simon was going to bed!) and CHAPS transfer the remaining Dosh into my bank account by 1pm.

I don't give a monkeys about all the soothing words about 'your money is safe with NR and not to worry' the hell it is and from experience I know it won't be the Directors out of pocket but the Punters with savings.

Thank God I never had any shares in NR I'd be bankrupt by now and worse still, I might have had to get a job!! :D

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I predict that NR will not survive and it will be taken over by another Bank in time.

They have lost the confidence of investors and the money market.

Absolutely unprecendented what has happened to NR and they have brought it upon themselves with their creative accounting.

A Billion Pounds was withdrawn yesterday from Investor accounts and don't tell me they can absorb that and survive.

Bradford and Bingly next........another high risk Bank and if anyone wants to buy shares in BB they can have mine!


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exactly what i was thinking !!

Dont think buying shares is a good option .......i agree with Mel

They have lost the confidence of investors and the money market. and the only way they have foward is to sell up !!

But city and banks will wait until they are on their knees b4 takeover comes .....

nasty business which is going to have knock on effects.............

which somewhere along the line is sure to affect us lot .............


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Wow what a stupid comment I made, share price down to around 310 as I write. Have to agree there's no way back for NR now.

As I understand it people with a mortgage are safe, they would just sell the 'mortgage book' on to another intitution.

What an eye opener this is all becoming.

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