With the news a few days ago that Britain’s second largest lender, Abbey would be lending up to five times income for some borrowers, one is reminded that crazy things happen to sane institutions before a fall. Many at the moment do not dispute that the UK housing market is in a dangerous state...
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It seems that the vultures are beginning to circle around the Bank of England. As we reported in our previous article, Institute of Directors have outlined that their own report points to increases in bank rates needed. Adding more fuel to the fire comes a report from BDO Stoy Hayward outlined in BN that...
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For observers of the UK housing market there were more signs yesterday that the market is a bubble and that the country’s second largest lender, Abbey, may have precipitated the start of a crash. Recently the Spanish owned bank released figures from it’s own findings that nearly 7 million people in the UK cannot...
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The Nationwide bank stated that house prices cooled slightly in October, but still rose by an average of 0.7%. However, the latest three monthly forecast should an increase of 2.6% over the period – the fastest growth since September 2004. With the average price of a UK house now sitting around £169,623 it seems...
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As a ‘non wealth creating’ asset, houses are certainly making many in the UK think otherwise. British householders enjoyed yet more news of house price increases from the Department of Communities & Local Government (DCLG) stating that prices rose 1.6 percent in August. The annual rate of house price inflation is up from 6%...
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