All change at Victoria Tuesday, September 11, 2007
When America sneezes....London based Victoria Mortgages, a sub_prime UK lender is the first British lender to fall victim to the credit crunch and has gone into administration.
Launched in 2005, the company couldn't refinance its book in the wholesale market on which it was dependent. It had 0.06% of the UK mortgage market.
posted by John Wilson @ 10:38 PM Permanent Link
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