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More home owners now expect prices to drop

A survey by YourMove found that almost a quarter of home owners now expect house prices to fall in the next 12 months. This is a huge increase from the 4% who were predicting house price falls just three months ago.

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If minor fraudsters were prosecuted it would deter others

Rooting out fraudulent documents is made harder when so many customers only provide internet bank statements. Unfortunately, it seems the provision of such documents is not illegal although why someone would want a novelty P60 or payslip other than for fraudulent purposes is beyond me. As an underwriter I am reliant on the mistakes made […]

MPC in wait-and-see mode over base rate but Sentance rebels for third time

Minutes from the Monetary Policy Committee’s August meeting show rate rebel Andrew Sentance once again voted for a 0.25% rise. It is the third month in a row that Sentance has voted to increase the base rate but all other members voted for no change, including new member Martin Weale who boosted the MPC’s membership […]

Gross lending up but slow market predicted for 2010

Gross mortgage lending was up 5% to £13.6bn in July, says the Council of Mortgage Lenders. Lending is up from £12.9bn in June but down 3% from £14bn in July 2009. The data suggests that lending remains on track to meet the CML’s revised forecast of £140bn, revealed earlier this month. Its previous £150bn forecast […]

The Mortgage Mole

DIGGING THE DIRT IN THE MORTGAGE WORLD…

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