Northern Rock crisis to hit estate agent's profits

British estate agent Humberts warned on profits today after after the crisis at mortgage lender Northern Rock sent shudders through the housing market in the UK.

The group, which has 70 branches, said large numbers of buyers delayed exchanging contracts last month due to the uncertainty, with trading “significantly below” forecast.

Humberts now expects underlying profits below market expectations for the year to September.

The company said: “The advent of the Northern Rock crisis and the ensuing uncertainty took the property and housing market by surprise.”