A feeling of insecurity
A $2billion trading loss posted the other week by JP Morgan Chase sent further shock waves through the Banking sector and could impact on the availability of mortgage credit here. According to a Bloomberg report the bank had been investing heavily in UK residential mortgages through the securitisation route but its appetite might be dulled as a result of its financial woes. We have pointed out many times in the past that the reopening of the securitisation markets is crucial to mortgage availability and, hence, the general health of the housing market. If JP Morgan draws back from this sector then this could sap market confidence. On the plus side bond investors consider UK homeowners along with the Dutch to be the most credit worthy in Europe.
Compliance Officer for Legal Practice
Andrew oversees the Firm’s Quality Systems and is committed to making sure that our client’s receive the very best customer care and attention along with the best marketing and legal advice in the area.
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