Are,the reported bradford & bingley losses a stark warning of things to come?

Question

buy-to-let mortgage bonanza,now the cracks are starting to appear!

Answer 1

Before the sup prime mortgage crisis, Bradford & Bingley is like other mortgage lenders and banks. Its also provide financing to borrowers who buy-to-let. Their business was good and profitable. I think their business should again be good, when the banks have done their write downs and the credit crunch ends. However, those cracks leading to their losses should be addressed quickly. A revised system of mortgage lending should be introduced to resort less in foreclosure actions and a better credit control system should be introduced by banks and mortgage lenders for themselves and their mortgage borrowers.

Answer 2

They are not a good sign.

Answer 3

Bradford & Bingley, what???? Where can I find out about this?

Answer 4

It`s just another downturn in the banking and financial world we were all pretty much aware of,repercussions will be understood as time passes,

Answer 5

doesn't look good does it , I wonder if buy to let has fallen due to people who are on housing benefit being paid direct or an important factor in this .

Answer 6

Every mortgage provider and estate agent is experiencing these problems, the smaller companies are already folding. This is just their turn to announce figures but everyone is in the same boat. Yes the buy-to-let phenomena is over, but then any property analyst worth their cornflakes in the morning could have told you this runs on a cycle. We are approaching and some would say we are in a recession and property is the single most expensive purchase a person makes, logically it would be the hardest hit.

We may not be at the bottom of the fall yet but we won't have to much further to go.