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Bailiffs to reap a bitter harvest, warn Lib Dems

The Liberal Democrats have warned that bailiffs will be reaping a &#39bitter harvest&#39 following industry figures showing a triple increase in lending.

Responding to Building Society Association figures which show lending has tripled over the past year and British Banker&#39s Association figures showing mortgage lending for October at a record £6.1bn, Malcolm Bruce MP, Liberal Democrat shadow DTI secretary, says: “These disturbing lending figures show how seriously people are exposing themselves to further rises in interest rates.

“Much of this lending is underpinning the consumer and housing boom, and with manufacturing still in recession, the Bank of England now has a serious problem. All this money will have to be paid back. If this runaway lending continues, and unsustainable personal debt keeps growing, the bailiffs are set to reap a bitter harvest.”

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MCCB welcomes FSA decision on &#39good&#39 firms

The Mortgage Code Compliance Board says it welcomes the FSA&#39s confirmation that registered firms in &#39good standing&#39 with the board will enjoy a smoother journey through FSA regulation. The move follows a comprehensive review by the FSA of the MCCB&#39s registration criteria, compliance monitoring arrangements; and actions to deal with breaches when they occur. However […]

Tacky is just what we don&#39t need now

Regulation is fast approaching and anyone attending the Mortgage Expo last week will see why. Pole dancers on stands, bunny girls doing the rounds. Talk about a time warp – it was like being back in the 1980s. And you wonder why the FSA wants to clean up the intermediary market. This was just asking […]

SML comes under control of sister company HML

Savings Management is to be brought under the management control of sister company Homeloans Management. HML managing director Steve Haggerty, who is already on the board of SML, will take over as managing director, and operations director David Grant will run both companies. Both companies are based in Skipton, North Yorkshire, and are wholly owned […]

You can make it

The self-build market now accounts for one in four detached properties built in the UK – more than are being built by any housebuilding company. Some 20,000 self-builds and renovations are completed each year. In comparison Persimmon built just 12,051 in 2001, Wimpey built 11,537 and Barratt built 5,498. The vast majority of self-build properties […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk

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