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Defaqto calls government plan “eye catching”

Research firm DeFaqto has called the government’s mortgage rescue scheme a series of “eye catching announcements aimed at kick-starting the bottom of the market”.

Defaqto says the government hopes the scheme will provide a level of confidence elsewhere.

David Black, principal consultant for banking at Defaqto, says: “For the 10,000 first-time buyers who get the five-year interest free loan it will enable them to jump onto the housing market.

“The great imponderable for them though is what will happen to house prices – will they stabilise or continue to fall?

“On the other hand there is also a convincing argument to say that the interests of first time buyers would be best served by cheaper houses.”

Black says the concern continues to be those recent purchasers who can afford their mortgage payments but have entered negative equity with a property now worth less than the mortgage.

He says: “They will find it virtually impossible to move until the market has picked up substantially.”


Edeus extends Golden Goodbye

Edeus has extended its 10% cashback offer to encourage more of its borrowers to remortgage away to another lender.

Good brokers could end up paying for cowboys

Good brokers could be paying for the few mavericks in the industry if individual regulation comes through, says Julie Alderson, director of Management Services 2000.

Coventry sends itself to top of the pile

A couple of weeks ago I was tempted to write a piece suggesting that the financial services industry was in danger of going the same way as UK car makers did back in the early 1970s.

The Olympics saved my summer

Bad news, bad weather, bad television and pearls of wisdom from the Financial Services Authority on repossession and treating customers fairly conspired to make it a miserable summer for Philip Tebbatt

Healthcare regulation amalgamation predicted for Gulf states

While Dubai is leading the way in terms of legislating for expat healthcare in the Gulf, Qatar, Abu Dhabi and others are watching and learning – that’s according to Jelf International’s director of international services, Doug Rice. He believes the pace of change in the Gulf states will continue and that some level of unified healthcare system will be introduced across the region.


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