Released on: September 22, 2008, 2:48 am

Press Release Author: Gracy

Industry: Financial

Press Release Summary: The homeowners should be prepared to face a drop in the value
of their properties due to the unexpected turmoil in the global financial segment.


Press Release Body: London (Longdog Finance) September 18, 2008: The recent
resurgence witnessed in the sector of global financial pounds, especially in the
world of residential property segment would force the homeowners to bear an
unprecedented fall in the value of their respective properties, as reported by
eminent experts this week.

The crash of Lehman Brothers and the acquisition of Merrill Lynch would certainly
impose fresh trauma in the UK housing market section, the prominent market players
commented. This situation would be complimented further by the lenders due to their
tightening of mortgage approvals and as the anxious bankers are scrapping their
schemes to spend bonuses on properties.

Liam Bailey, the Chief of residential research at Knight Frank remarked,' the
bankers are inclined to drop the rates of 2-3 million pound homes to around 10-20%
after every consecutive year, but after this eventful week, the fall in prices are
expected to be much higher'.

'We are expecting to witness a 20% drop in pricing in total as around 1-2% falls in
the price value every month has been witnessed', commented Bailey. Since, many
people are facing problems of multiple debts, so the demand for unsecured debt
consolidation loans has risen manifold.

The average price value of a house has toppled to around 13% that is likely 175,500
pounds since August 2007. This has been showed by the non-seasonally adjusted
Halifax Price Index.

Other experts such as the Head Executive of Grainger, which is Britain's largest
residential landlord, Rupert Dickinson reported they are expecting to witness
whether the banking sector turbulence has the potential to uplift forced sales in
historically spirited neighbourhoods on London such as Kensington, Chelsea and
Notting Hill.

"Most of the people are expecting the bump-bracket market was exempt to volatility
but we're witnessing rectifications in prices at the apical-end, where sweeps in
value can be more terrible than the commodity end of the market," he remarked.

Dickinson commented "I opine what has occurred may very well power some vendors to
reconfirm the pricing steadily.

Under such circumstances secured loans are becoming tougher and tougher to avail.
So, the unsecured category of loans offer a better option particularly for persons
caught in bad credit history. It is however relatively difficult to get loans for
poor credit history given that liquidity crunch prevailing around.

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