Ray Boulger of John Charcol says the Bank of England’s Q2 2010 Credit Conditions Survey was not as doom-laden as some media outlets have suggested.
He said: “Reading some of today’s media headlines one could be forgiven for thinking that mortgage lending is about to collapse. The reality will probably be rather different but there is one particular heightened risk compared to three months ago – the fear of a Greek Sovereign debt default and the Eurozone contagion that would follow. The Q2 survey of lenders was undertaken between 20 May and 9 June and although Greece’s credit standing was already under serious pressure three months ago it is almost certainly increasing market concerns over Greece
