Summary
TAXPAYERS could be left saddled with billions of pounds worth of defaulting mortgages under government plans to stem the slump in the property market.
News of the scheme comes as the International Monetary Fund warned that credit crunch is likely to intensify over the coming months. Sharp falls in property markets in the U.S. and UK have put banks under 'renewed stress', forcing them to tighten up on lending even more, warned the Washington-based IMF.See the full content of this document
Extract
Mortgage Bail-Out Could Hit Taxpayer
Under proposals being discussed at the Treasury, ...
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