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Lib Dems urge government to rein in irresponsible lenders

The Liberal Democrats have reacted to last week&#39s Nationwide house price index showing a renewed acceleration in house prices.

Vince Cable MP, Liberal Democrat shadow chancellor, says: “This is further proof that there is an unsustainable bubble in the housing market. Soaring house prices are a headache for Gordon Brown and make an interest rate rise all the more likely.

“People who are borrowing at the edge of their means may get clobbered in the next few years, if rate begin to rise steadily. The Bank of England has warned in the last week that homeowners would be brutally exposed if there were a serious downturn in the housing market.

“The Bank of England alone cannot deal with the house price bubble &#45 the Financial Services Authority needs to supervise lending to protect homeowners.

“It is time for the government to take action to protect ordinary homeowners against irresponsible lending.”


Hopes and dangers in government plans

Kevin Paterson, managing director, Park Row Independent Mortgages First-time buyers and key workers in property hotspots have been increasingly priced out of the property market. A recent government report highlighted that due to economic growth, rising incomes, more single occupancy households and people generally living longer in the past 30 years, the demand for housing […]

Quay Software launches compliance plug-in

Quay Software has launched a compliance plug-in, a software application designed with compliance experts to assist heads of compliance whether inhouse or outsourced. Quay claims that time savings of over 80% are achievable in compliance and training and competence management with this software. The compliance plug-in provides assistance with:• Co-ordinating the administration of each adviser&#39s […]

Retail sales growth points to rate rise

Retail sales grew solidly in October, rising at their fastest year-on-year rate for 18 months, business leaders reported yesterday, prompting fears that the Bank of England will raise interest rates this week. Figures from the Confederation of British Industry show sales grew in September but by less than had been expected. October&#39s performance was much […]

PII firms work with FSA to try and bring down costs

Professional indemnity insurance providers have been brought together with the FSA following efforts by AMI and AIFA to bring down spiralling PI costs. The mortgage intermediary and IFA associations say they arranged the meetings to help overcome a perceived lack of understanding of risks involved in the provision of PI cover for advisers. Paul Smee, […]


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