The catalyst for the recent turmoil in the mortgage market is, we can all agree, unprecedented. But the resultant situation that faces mortgage lenders isn’t. Far from it.
You only need go back to 2007/2008 for a recent example of lenders facing a similar scenario.
Back then, global money markets collapsed, plunging not just institutions but countries into financial uncertainty. Their banks had to make decisions whilst surrounded with looming recessions and a future of unknowns.
The same is true as we look ahead today. The question is, what are banks and building societies doing differently this time around?
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