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World Cup knocks housebuilding figures

The latest housebuilding figures show that fewer dwellings were started this summer than last.

Some 13,400 dwellings were started in June 2002, compared with 17,000 in June 2001. Some 46,600 starts were estimated in the three months to June compared with 48,800 in the first quarter of 2002. The low figure in June is likely to reflect the Jubilee Bank holidays and the World Cup.

Dwelling completions were up in June to 14,100 compared with 13,800 in June 2001. Similarly, there were 43,000 completions in the three months to June compared with 38,700 in the first three months of 2002.


Brokers get new weapon against delayed payment

Brokerages and other businesses are now able to claim up to £100 in debt recovery costs for overdue payment thanks to new legislation. Small businesses are already allowed to charge interest on late paid bills, and the new right to charge compensation costs aims to make late payers think twice before offering an excuse for […]

Skipton joins self-build panel

Skipton Building Society has become the latest lender to join the BuildLoan self-build mortgage lending panel with an exclusive flexible two-year stepped discount mortgage. The key features of the BuildLoan self build mortgage are: Up to 95% of land purchase, so clients only require a minimal deposit to buy their land. Up to 95% of […]

CIS tells borrowers not to overstretch

As house prices continue to increase faster than income rises can keep pace, Co-operative Insurance Services is warning frustrated borrowers to think carefully before stretching their income multiples too far. An increasing number of lenders are offering four and five times people&#39s salary and beginning to stretch to 110% mortgages in an attempt to plug […]

Authorisation, supervision, enforcement powers laid down

The FSA has laid out its full framework of powers and responsibilities in Consultation Paper 146, detailing the process of how firms can register and, where appropriate, be punished. The FSA has already set out its plans for the authorisation process in the Authorisation Manual, which forms part of the FSA Handbook, and firms will […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]


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