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Gazunderers exploit falling house prices

Industry professionals are warning that gazundering is making a comeback as property buyers take advantage of falling house prices.

Gazundering was common in the recession in the early 1990s and entails undercutting offers to sellers as house sales are about to complete.

Doug Sleaper, regional director of London-based Regent’s Estate Agents, says that whereas gazundering was born out of desperation in the 1990s, now it’s a case of opportunism.

He says: “Buyers are trying to take advantage of what they perceive to be leverage in a buyer’s market.”

Mike Fitzgerald, sales director at Brentchase Financial Services, warns that gazundering could have a knock-on effect on property chains.

He says: “It can be dangerous because if sellers are forced to lower their prices they may not be able to secure mortgages for their next purchase.”


Pink boss calls for FSA regulation

Neil Hoare, associate director of marketing and IT at Pink Home Loans, is calling on the Financial Services Authority to regulate secured loans. He says: “Pink has always held a strong view that the sector is becoming more regulated and that the secured loans industry should be a part of the advice process.”

Site launches secured loan deal has launched an exclusive secured loan product funded by Central Capital with an APR of 7.5%. It says secured loans are good options for clients with equity in their homes.

HBOS’ share price plunges 32%

HBOS’ share price has fallen a whopping 32% to 190p in early morning trading in the wake US investment giant Lehman Brothers filing for bankruptcy.


Neptune video: Abenomics: the impetus for Japan’s fast-track recovery?

The remarkable performance of the TOPIX over the past year has caused many sceptical equity investors to look again at the Japanese market. These returns have come despite very significant problems facing the Japanese economy. Chris Taylor, manager of the Neptune Japan Opportunities Fund, discusses these problems and whether Abenomics will be able to overcome them, enabling the market to continue to rise.

In the video, Taylor addresses the following:

• The size and speed of Japan’s unprecedented monetary policy
• Abenomics and the implications should it fail
• Corporate Japan and beneficiaries of government policy


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