UK Mortgage Company goes Bankrupt
The first signs of the sub prime mortgage crisis spreading to Britain was suggested as a UK specialist sub prime mortgage lender went out of business.
Victoria Mortgage Funding, become the first UK company to close. Their failure is strongly related to the global credit crisis. The business was taken over by KPMG
Victoria Mortgages, specialised in the risky adverse credit and sub prime mortgage sector. It would then sell its debt to investors. However, with the collapse in confidence in sub prime lending, they have been unable to find investors willing to take on the risky mortgage debt.
What Can we Learn from Sub Prime Collapse