IMF warns Britain on sub-prime market

The International Monetary Fund has warned that Britain’s sub-prime mortgage system is comparable to the United States, sparking fears about the stability of the housing market, according to a report in the Daily Telegraph which cited the IMF.

Interactive Investor - (AFX UK Focus) 2007-09-25 06:56 GMT:

The report said the Washington-based institution singled out the UK’s low-income mortgage market as a key area of risk for the financial system. It came alongside a warning that the credit crunch and its aftermath will last longer, and be more painful, than many people expect - full article