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Bank of England warns of risk of house prices falling

Bank of England governor Mervyn King last night warned housebuyers of a growing risk that house prices could fall.

Speaking in Glasgow to CBI Scotland, King told delegates: “Anyone entering or moving within the housing market should consider carefully the possible future paths of house prices and interest rates.”

He went on to say that houses may be overvalued: “After the hectic pace of price rises over the past year it is clear that the chances of falls in house prices are greater than they were… How far interest rates will need to rise to keep inflation on track to meet our 2% target for consumer price inflation is impossible to say with any degree of confidence.”


Genesis enhances The One account proc fees

Genesis is enhancing procuration fees for intermediaries on products from The One account. Until the end of July, Genesis is increasing the fee to intermediaries to 0.70% on The One account and 0.55% on the flexible mortgage option. All applications submitted between June 1 and July 31 which go on to complete will be eligible […]

Name change for Pinniger Partnership

Pinniger Partnership has changed its name to Primeword Communications.  Pinniger Partnership (a trading name of Primeword Limited) was established in 1995 and has specialised in lobbying and public relations for the financial services and associated sectors.  The name change is designed to denote a more corporate image for the company and to reflect its expansion […]

Fear of fines will spur uptake of call recording

Fear of fines from the Financial Services Authority post-Mortgage Day will spur a huge take-up in call recording technology among brokers, claims software firm Veritape. With its PC-based phone call recording system, CallCentre, the firm is expecting the majority of its business to come from mortgage and general insurance brokers. MCOB rules require firms to […]

Vesta Money picks SDS MAPS for mortgage processing

SDS Applications, a provider of web-enabled solutions and software for the mortgage industry, has announced that Vesta Money has selected SDS MAPS for its mortgage processing. Vesta operates nationwide and says it generates and packages millions of pounds in mortgages per year. Vesta will deploy MAPS throughout the company&#39s operation The system will be used […]

The return of inflation

Alex Ralph, manager of the Artemis High Income Fund, sees further pressure on government bonds as inflationary pressures build on both sides of the Atlantic.


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