Enlarge/Change font size hereA A A
Today Moody's Rating Agency have now warned it may cut the credit ratings of 17 global and 114 European financial institutions – signifying that the impact of the Euro-zone government debt crisis is gradually weakening our global financial structure.
Moody's are currently reviewing and assessing the banks and financial institutions, but have already warned that it might cut the long-term credit rating of
Amongst the banks that might be downgraded by two notches are
This news comes just 4 months after Moody's downgraded the credit rating of 12 UK financial firms, including
Since the beginning of the financial crisis, of the late 2000's, the UK has seen the following 12 banks/building societies either being taken over, merged, nationalised or declared insolvent / liquidated;
With Moody's being one of the biggest three agencies, their ratings heavily influence the amount of interest that companies and governments pay to borrow money.
So we at Landlord Referencing Services have been wondering what the ramifications would be for the UK Buy-to-Let market if these current UK banks were to be down-graded?
How did it affect YOU?
How can a landlord or letting agent benefit from joining the Only (Free) Lifestyle Referencing Company in the UK?
And click here to find out how Landlord Referencing Services is currently working on building YOU a better credit rating.
Samii, a very through and informative article. When I worked in the City 24 years ago as a sterling deposit dealer these banks were giants what a shame it is to see greed and bad management bringing them to their knees and getting the same status as a bucket shop.
The problem is when they are down graded their limits are cut with other banks and they have less money to lend out in the market, its simple they make money by borrowing it at a lower rate than they lend it out at and if they cant borrow it they cant lend it.
I have said it before this Government needs to start a Government Bank of Commerce and lend lend lend to get our manufacturing back into this Country, every day they don't is another day down the road of despair don't just bail out Northern Rock with our money and then give it to goodie 2 shoes Branson to earn another billion, give it to the people to build a strong economy and in a few years you will see a strong economy with a bank working for the people like the Bank of China.
I fear that unless the Governments of these Banks do not offer the banks creditors a firm guarantee against their borrowing we will see them start to fold as the world financial crisis becomes worse and then who knows where we will all be quite simply "Bankrupt" or taking up arms to protect ourselves from invasion!
Dads Army then a new silent film - I baggsy being Captain Mannering, Chris can be Private Jones and Dean can be stupid boy "Pike"
I agree with Paul wholeheartedly, it's about time the government gave something back to the people and stop lining the "Fat Cat's" pockets with our money!
Don't panic Mr. Mannering !
This is going to destroy any potential first time buyers/landlords.
Poorly managed funds by banks have had a knock on effect on people that are trying to make an honest living. Why don't the bankers get penalised for poor investments. It is always the tax payer that has to foot the bill for them.
Our future generations will be in a very difficult position for many years to come. Its always the corporate giants that gain while the average Jo Bloggs suffers. The downgrade is going to cause irreversible damage to the economy.
Unemployment rates continue to rise and we have another slap in the face! Fantastic- note my sarcasm.
I agree with Paul a Bank of commerce is needed.
Banks have proven themselves not fit for purpose.
They are only interested in the short term view for their shareholders.
The Bank of Chine investment timeline is decades not 5 years.
So perhaps communist capitalism is not such a bad business model.
It seems to be working for China!?
I welcome the day when Banks actually lend money to British Industry and Building Societies remember their earlier principles of encouraging their members to save with them. On a recent visit, a few days ago, to pay some money into my account I was approached to use a Cash machine to pay my money in. This presumably was to allow the Cashier to sell Insurance and other ancillary products to their members, rather than accepting the paltry £50 I was attempting to pay into my account.
How many Landlords/Letting Agents who accept cash payments from their tenants receive this shabby treatment each day? I would be interested to know.
I prefer to credit my cash payments outside opening hrs as I refuse to stand in a queue.
Most Users Ever Online: 755
Currently Browsing this Page:
Mary Latham: 2190
David Price: 1644
Patricia A: 986
DATA CONTROL: 967
Guest Posters: 2539
Newest Members:hereiam, EZI Global, lindy, mrkane, aztec, kkarimi
Moderators: SamiiB: 441, News @ Tenant Referencing: 1576, laura: 15, Chloe: 107, lucybarr: 0, jaswhite: 20
Administrators: Paul Routledge: 3415