View more on these topics

Lib Dems label financial services of reckless

The Liberal Democrats have accused rising lending by banks and building societies as recklessly fuelling the housing boom.

Commenting on figures on lending to individuals out today, Vince Cable MP, Liberal Democrat Shadow Chancellor, says Britain&#39s personal debt will top £1tn in the next ten days – and isincreasing at £1m every four minutes.

He says: “If oil prices stay high, inflation and interest rates could rise, causing serious difficulties for many people.

“Large numbers of people are gambling on the house price boom – a gamble they may regret if house prices start to fall or interest rates continue to rise.

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


Millionaire sells Swift for £100m

The millionaire owner of UK mortgage and consumer credit lender Swift Advances, ranked number 470 on The Sunday Times&#39 Rich List, has sold the company to private equity firm Alchemy for an estimated £100m. Dennis Myers, listed as having an £85m fortune, founded Swift Advances in 1984. It made a pre-tax profit of £23m in […]

46% of home buyers looking to buy their home at auction

Research carried out by The Property Investor Show North reveals that 46% of homebuyers are considering buying their next property at an auction. Over 30,000 properties are sold at auction in the UK every year, many at up to 40% below high street prices. In a market where high prices are keeping a lot of […]

The Mortgage Times launches roadshow

The Mortgage Times has launched a series of national roadshows aimed at appointed representatives and directly authorised intermediaries. The Roadshows will focus on the upcoming regulatory changes, and will unveil The Mortgage Times Group&#39s range of one-stop solutions. Delegates will be meeting senior managers from the group, who will advise them of the choices they […]

Retails sales growing at fastest rate for two years in May, reveals CBI

Retail sales grew in May at their fastest rate for two years and are expected to be almost as strong this month the CBI&#39s latest quarterly distributive trades survey, reveals. The survey suggests that consumers&#39 appetite for spending is undiminished.Some 65% of respondents said sales were up compared with a year ago while 14% said […]


News and expert analysis straight to your inbox

Sign up