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Lehman Brothers scope out mortgage lenders
Thu, 14 Sep 2006
The US Investment bank Lehman Brothers, well known for their command of extensive wealth, are said to be seeking an acquisition, or multiple acquisitions amongst European mortgage lenders .

According to Reuters, one of the chief experts at Lehman Brothers revealed the ambition. The chief financial officer, Chris O’Meara, said that whilst their US mortgage business was stable, their lending in Europe remained low.

Lehman Brothers, like other US investment banks, are enjoying healthy times following a pick up in the markets. Lehman earlier this year announced pre-tax profits of $916 million for the three months preceding August 25th, despite falling revenues in the underwriting and investment banking fields.

European and UK mortgage lenders are regarded as stable investments in the high finance sector, with many recording consistent large profits. Which company or companies they choose to invest in remains to be seen.

The affordability of mortgages in the UK has been causing consternation of late, with many first-time buyers struggling to get on the property ladder. Lenders have responded to this by offering their best rates possible, including specific loan types such as graduate mortgages and group mortgages . A further hike in interest rates this november could price many first-time buyers out of the market.

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