Surveying mortgage storm damage

Shop signs often come with a customer tickler sign proclaiming that ‘once they’re gone – they’re gone!’ Well, for many mortgage intermediaries and their sub-prime customers, some of those rate ‘bargains’ have now gone and what was a relatively easy sell to a big pool of customers has now become much harder. We are not at storm level five just yet, but already some firms will be buffeted by the winds of change. Some players will be more exposed than others by the credit crunch in the world financial markets. However, at the time of writing I’m still unsure just how much our main lend...