Wednesday, 14 January 2009
Due to End in Tears
Crickey. The Housing Association world is in trouble, basically because of the credit crunch's effect on their sales driven business models. So what are they doing? Well, they're replacing typically fairly conventional 30 year capital financing from banks with, ahem, 'sophisticated' 5 year 'lender option borrower options' between themselves.
"Alex Pilato, chief executive of Traderisks, said the deals were so complex that associations would find it impossible to work out the true cost. ‘When the only lending that takes place takes place in a non-transparent way you are missing the opportunity to get the market moving again.’"
Rearrange the following words to discover the deeper meaning of all this: Petrol/Flames/The/Thowing/On.