UK Secured Loan Market
Before the global economic crisis of 2007, the Financial Services Authority (FSA) estimated that the UK secured loan market had a net worth of £7,000,000,000. However, following the close of Lehman Brothers' sub-prime lender, BNC Mortgage in August 2007, the UK's most prominent secured loan providers were forced to withdraw from the market.
Read more about this topic: Secured Loan
Famous quotes containing the words secured, loan and/or market:
“His [the President’s] earnest desire is, that you may perpetuated and preserved as a nation; and this he believes can only be done and secured by your consent to remove to a country beyond the Mississippi.... Where you are, it is not possible you can live contented and happy.”
—Andrew Jackson (1767–1845)
“Slight was the thing I bought,
Small was the debt I thought,
Poor was the loan at best—
God! but the interest!”
—Paul Laurence Dunbar (1872–1906)
“At market and fair, all folks do declare,
There is none like the Boy that sold Broom, green Broom.”
—Unknown. Broom, Green Broom (l. 23–24)