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CML gives up on predictions

The Council of Mortgage Lenders is refusing to make any predictions regarding mortgage lending for the time being.

In a press announcement last week the lender trade body said any forecasts would be pointless at the moment in light of the acquisition of HBOS and the US government’s intervention proposals.

The CML says: “We accept that our existing forecasts understate the likely house price correction in the UK this year but believe it would be futile to update them.”


NACFB issues warning over upfront fees

The National Association of Commercial Finance Brokers is warning brokers about the dangers of some lenders charging large upfront fees.

Bank bosses face day of reckoning

Governments on both sides of the Atlantic are cracking down on the executives of mortgage companies in the aftermath of the credit crunch’s latest developments.

Leads for less than bus ticket is slashing minimum bid prices to as little as 3 across five of its mortgage brands.

Ireland falls into recession

The Irish Republic has slumped into a recession figures from the Central Statistics Office show.


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