According to a Reuters report, the consumer research group Mintel have published a report that shows the potential for major financial difficulties amongst a considerable proportion of British mortgage holders.
The US subprime crisis has spread rapidly through the world, and Mintel claim that it is not just those with bad credit records who will suffer. Furthermore, people who are self-employed and those who have moved house often could face problems.
A senior finance analyst at Mintel, Toby Clark, reportedly commented: "The focus over the last few months has very much been on subprime borrowers, but they are only the tip of the iceberg."
The Mintel report apparently said: "In today's more conservative lending climate, the unconventional financial situation of these homeowners means that they will now face higher repayments and increased lenders' fees when remortgaging or moving house ."
The study found that as many as one in five people already anticipated problems with their mortgage application, due to their method of employment or the way they made their income. The full impact of the subprime mortgage lending collapse, experts say, if far from over.
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