House Prices to Recover in 2013
BBC.co.uk is reporting that house prices won’t get back to where they peaked in 2007 until 2013. The source of their information, the Centre for Economics and Business Research (CEBR), is also predicting prices will fall another 25% by the end of 2009 and then level off.
If this forecast is correct, this means that we [...]
Mortgage Fraud Double in Last Year!
IFAonline.co.uk is reporting today, that Mortgage Fraud has increased 100% in the last year as a result of increased cases of identity theft and the lax lending criteria of recent years.
Some interesting stats:
The amount of funds paid out to lenders on fraudulent purchases rose from £2m in 2006/2007 to £4m in 2007/2008.
Up to 60,000 UK properties [...]
British Bank Bail Out at Tax Payers Expense?!
Unless you spent your weekend under a rock, you would have heard about our Government’s rescue plan to our banks.
As I sat down this afternoon to disect the issue, I first read through my bookmarks and came across this little doozy from the Money Hospital. They do a great job of breaking down the plan and [...]
Silver Lining - Abbey Lowering Rates?
Just when we thought all was lost…
Well, I’m being a little dramatic, but there was good news in the mortgage industry today when Abbey announced it will be reducing it’s rates and booking fees on it’s five year fixed rate mortgage package from tomorrow. Granted five years is a long time to be tied into [...]
Lloyds TSB and HBOS Merger
Lloyds TSB and HBOS Merger has sent shockwaves throughout the financial system of the United Kingdom. While there was no doubt that the effects from the American sub-prime loan catastrophe would crash hard on the UK’s shores, a lot of people are concerned that it might affect more than the thousands of employees who could [...]