John Charcol, one of the UK’s leading lenders and financial organizations is asking their investors for more funds to help them deal with the bad credit mortgage crisis. The lender has been seeking a buyer since late fall of 2007 when the first news of the bad credit mortgage crisis began to hit. Although the lender has had a more balanced portfolio, they are definitely feeling the pinch of the bad credit mortgage market. As such, they will be limiting their new loans to some extent until they can recover.Drew Wotherspoon of Charcol said: “Deals tend to be available for only limited periods because finance is so hard to find, and over the last four or five months consumers have rushed to anyone with a market-leading rate. The rate is then withdrawn, and so they go to the next best, and this has left companies with big service issues.”In the good times we are fantastic news for banks, and they put lots of exclusives with us because they know we can sell them. In the bad times they don’t want us so much, but we think the situation is improving.”
Related reading: Bad Credit Mortgages
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