A new survey showed that the majority of mortgages United Kingdom holders are worried that the housing crisis is going to get personal. With more than 1 million homes facing possible foreclosure over the next year, many home owners are worried that they too will be at risk for losing their homes.”The situation is going from bad to worse,” said Ray Boulger, technical manager at mortgage broker Charcol. “Lenders are trying desperately to avoid getting more business than they can cope with, either because of the amount of funding they’ve got allocated to the mortgage market or because of service.”"It is fair to say that this (Halifax report) is not a hiccup, but the start of a correction which is likely to run through the rest of this year and next,” said Seema Shah, a property economist at Capital Economics.”This is the first time I’ve seen the supply side as unavailable as it has been,” said a banker with more than 20 years experience at one of Britain’s biggest lenders. “In the past the market has changed due to shifts in customer behaviour or the underlying economy, but at the moment this is a supply driven challenge and affecting the lenders in different ways. But the result is undersupply.”
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