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House prices rise

Here is an interesting little piece of news. Halifax have released figures that show that house prices actually rose in January – now that’s a turn up for the books.

Ok it was just a mere 1.9%, and before you all get carried away it is
important to remember that this is just a single month rather than a

But I still stick to the premise that this year is the year to buy
property and could well be the best opportunity for a number of years.

I know I will probably be pilloried by those who write on the wonderful forums but hey, I can look after myself.

Many agents are saying that they are getting more and more enquiries, as
are many brokers, so already large numbers are realising that now is the
time to buy.

Even if there is another 5% fall this year, in the long term prices will return.

This will be tempered by worries over job security, try being a mortgage broker at the moment, but if you look at things another way, with three
million unemployed, which is by no means an acceptable state of affairs, this actually means nine out of 10 people are still in employment.

So, all we need are mortgages.

But lenders are in a difficult situation too. The issues they face around Basle 2 and Capital Adequacy Ratios mean that it is sometimes just not viable for them to offer higher loan-to-value products at the moment, hence government intervention is needed.

In fact it is more than that, this is a European / global issue.

The worry is that the government still do not seem to fully understand the issues.

In fact there are worryingly too few that actually do as the whole thing has been made unnecessarily complex.

The answers, my friends, are out there somewhere, but I am afraid that even Mulder and Scully would struggle to find the truth in the short term.

In the long term things will work themselves out, they always do, but how long is a piece of string?


Mandelson’s debt to Britannia

About this time of year 10 years ago – on January 9 1999 to be precise – trade secretary Peter Mandelson got the all-clear from Britannia Building Society, confirming that it would not pursue him for mortgage fraud.

Low interest rates may be detrimental

For the last few months I have felt like I was marching to my own time rather than in step with the rest of the regiment, at least on the issue of interest rates.

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Mothers missing out on millions

New HMRC figures show number of ‘mothers missing out on millions’ in pension rights has doubled in two years – Steve Webb Figures published on 24th March by HM Revenue & Customs show a doubling in the number of mothers missing out unnecessarily on vital pension rights because of a change in the rules on Child […]


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