delusionofgrandeur

According to Bloomberg, Northern Rock is to pull out of the UK subprime mortgage market.

The recently nationalised bank has been reducing it’s mortgage offerings over recent weeks.

This will no doubt come as something of a shock to the UK government who have been adamant thus far that there is no subprime crisis in the UK and that it’s all an American problem

This entry was posted on Monday, March 10th, 2008 at 1:11 pm and is filed under Economy, Fantasy House Prices, 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.