We Need Help to Ease Credit Crisis; FINANCE: Revival of Mortgage Lending Would Get Properties Moving

Coventry Evening Telegraph (England), July 31, 2008 | Go to article overview

We Need Help to Ease Credit Crisis; FINANCE: Revival of Mortgage Lending Would Get Properties Moving


Byline: By Andy Hutson, BUSINESS EDITOR

PLANS to revive mortgage lending have been overwhelmingly welcomed by a Coventry and Warwickshire property expert.

A report commissioned by the Treasury suggesting the government may have to guarantee billions of pounds worth of mortgage bonds to ease the credit crisis.

Harvey Williams, Coventry and Warwickshire regional spokesman for the Royal Institution of Chartered Surveyors (RICS), said any assistance in easing the log-jam would help get the residential property market moving in Coventry and Warwickshire.

Figures out this week revealed the number of mortgages approved for house purchase dived by nearly 70 per cent during the past year to hit a new record low.

Bank of England data showed that just 36,000 new loans were arranged for people moving house during June as the credit crunch continued to tighten its stranglehold on the mortgage market.

The level of approvals was 68 per cent lower than in June last year, and fell by 12 per cent compared with the previous month, to be the lowest since the bank's records began in 1993.

The government-commissioned report on mortgage financing warned that the market would not return to normal for another two to three years.

The review, led by the former head of the Halifax Bank of Scotland, Sir James Crosby, said there was no quick fix to ease the logjam in home loan funding and stopped short of providing any firm solutions to the problems. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

We Need Help to Ease Credit Crisis; FINANCE: Revival of Mortgage Lending Would Get Properties Moving
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.