No credit check payday loansNo credit check loansNo credit check loans

Apply Here

Country: First Name:
Last Name: Tel. No:
Mobile No.: Email.:
Loan Amount: Loan Type:
I have read and I agree with the Privacy Policy.

HBOS Writes Down Stakes in Builders as Bad Loans Rise

June 19 (Bloomberg) — HBOS Plc, the UK’s biggest mortgage lender, said home prices will fall as much as 9 percent this year, more than it earlier forecast, and bad home loans rose 17 percent.

HBOS dropped as much as 6 percent in London trading today as the company prepares to sell 4 billion pounds ($7.8 billion) of shares in a rights offering next month. The Edinburgh-based bank wrote down 200 million pounds in the corporate investment unit, with half of that related to stakes in homebuilders, it said today in a statement.

“Their asset quality is deteriorating and the outlook shows no confidence,” said Mamoun Tazi, a London-based analyst at MF Global Securities Ltd. who is “neutral” on the stock.

HBOS plans to shore up capital after Chief Executive Officer Andy Hornby announced asset write downs of almost 4 billion pounds since the credit crunch began a year ago. The bank’s rights offer will follow a 12.3 billion-pound share sale by Royal Bank of Scotland Group Plc and an increase in missed mortgage payments that forced Bradford & Bingley Plc to cut the price of its rights offer by 33 percent.

HBOS dropped as much as 19.25 pence and traded down 4.3 percent to 305 pence at 8:30 a.m. in London. The shares are down 58 percent this year, more than twice as much as the eight-member FTSE All-Share Bank Index. Read more….

Source:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aoDlOmPbmESg&refer=home

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.