Hi kpw - No, most of the financial press are reportng that NR are asset rich the current problem was short term cash flow, which as been resolved with the help of the BOE. the present situation won't affect current NR mortgages except perhaps where people are on their standard variable rate and NR increase rates...
as a matter of interest they have just released a new cheaper sub prime mortgage product with free val, so they are confident that their sub prime business model works! They have also increased interest rates for savers recently.
To be honest I would not be suprised if they had to approach BOE again (which again, will be 'big news') before they find a funder to securitize their books.
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