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House price warnings falling on deaf ears, claim Lib Dems

The Liberal Democrats claim that with net lending at record levels, Bank of England warnings that house prices are over valued are being ignored.

Vince Cable, shadow chancellor, says that with the value of mortgage loans up by almost a quarter, bank lending was fuelling an unstustainable bubble in the housing market.

He says: “If house prices fall the Banks will get their money back, but homeowners will suffer the consequences. People will be exposed to negative equity if there is a serious

downturn in the housing market.

“What is alarming is that nobody in the Government is taking action to address the inflated housing market. It is time for the Government to take action to protect ordinary homeowners against irresponsible lending.”


RBS restricts self-cert deals

Royal Bank of Scotland and its NatWest division will no longer give employed customers access to self-certification products. All RBS and NatWest self-cert mortgages will be available only to self-employed people with immediate effect, although existing employed borrowers can keep their self-cert loan. David Outhwaite, head of retail pubic relations at RBS and NatWest, says: […]

Future unveils deals via MDC

Future Mortgages is to offer two self-certification products at 90% LTV exclusively through the Mortgage Distributors Co-Operative, as other lenders are pulling out of the market or restricting their products. The prime and near-prime products have three year stepped discounts available to both the employed and the self-employed, with income multiples of 3.75 for individual […]

FSA reappoints Deirdre Hutton for third term

The Financial Services Authority has reappointed Deirdre Hutton to a third term as a non-executive board director. The three-year term takes effect from December 11 2003 where Hutton will also take over as deputy chairman of the board and chairman of the FSA committee of non-executive directors when Stewart Boyd retires at the end of […]

Employees care about their health

It’s important employers remember this like an alarm going off in their head. Employees care about their health. And they’re calling on employers to provide them with health benefits. In a survey we conducted, we asked 1,005 UK SME employees to choose the top three employee benefits they would value most:  48% of employees voted […]


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