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Scenario Analysis Report Says U.K. Mortgage Borrowers May Be Between A Rock And A Hard Place Nov 11 Product Image

Scenario Analysis Report Says U.K. Mortgage Borrowers May Be Between A Rock And A Hard Place Nov 11

  • Published: November 2011
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) Nov. 22, 2011--The credit performance of U.K. mortgage borrowers could deteriorate in a wide range of economic scenarios--including not only a renewed recession, but also a stronger recovery accompanied by rising interest rates--according to a scenario analysis report Standard & Poor's Ratings Services published today. U.K. mortgage arrears and repossession rates have declined modestly since mid-2009, but some market participants have questioned whether record low interest rates are keeping mortgage arrears artificially suppressed. "Rate rises seemed imminent in the first half of 2011, raising concerns that some borrowers might start struggling to make their mortgage payments," said credit analyst Mark Boyce. "More recently, however, mounting evidence of stagnation in the U.K. economy has turned the spotlight...

Action: General Comment

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify READ MORE >

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