The subprime mortgage crisis isn’t over – UK taxpayers remain liable June 7, 2012 THE subprime mortgage crisis isn’t over. On the back of misguided government policies, taxpayers in the US and UK remain on the hook for huge sums. The ideology of affordable housing must end. It took just 13 years to destroy the American mortgage market with devastating effects for the rest of the world. The process began [...]
House price rise 0.5pc in May June 7, 2012 House prices rose by 0.5 per cent in May, rebounding from a 2.3 per cent decline in April, but prices were still slightly lower on the year, figures from mortgage lender Halifax showed on Thursday. The Halifax house price index showed house prices were 0.1 per cent down in the three months to May compared [...]
Profit of £4m suits sellers of Moss Bros stake May 29, 2012 A TRUST headed by menswear chief Simon Berwin yesterday sold its stake in Moss Bros – the once ailing suit hire firm formerly owned by Sir Philip Green. The investment consortium landed a £4m profit, selling its 28 per cent stake for 43p a share, compared to a purchase price of just below 29p when [...]
Kia’s new Cee’d cuts quite a dash May 29, 2012 The first thing you’ll notice with this car is its styling. It’s a product from Kia, a car brand that used only to attract the most rational of buyers: one that excelled at value, rather than glamour. Their cars only appealed to drivers who were focused on budget, rather than image. But its latest Cee’d [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 24, 2012 FINANCIAL TIMES EDF warns Hollande on nuclear plant Henri Proglio, chief executive of EDF, has warned France’s new president that he will need to discuss compensation with the nuclear power group if he presses on with plans to shut the country’s oldest atomic plant. Dow Chemical wins Kuwait damages Dow Chemical of the US has [...]
CRASH PADS May 24, 2012 For the City’s movers and shakers, it’s the million pound question: do you live in the town centre and save yourself hours of tedious, stressful commuting, safe in the knowledge that you own property in one of the world’s cultural hubs? Or, do you move to the commuter belt, get yourself a bigger house with [...]
LONDON BAROMETER May 24, 2012 DIRECTOR OF DOUGLAS & GORDON “The London property market continues to be hindered by the lack of finance available to buyers, which has increased the period it takes for a property to exchange to at least nine weeks. “Supply appears perhaps lower than it is because many good properties are put under offer immediately but [...]
SELL May 24, 2012 MANAGING DIRECTOR KAY & CO Q. I am going to sell my property and I understand that most enquiries now stem from the internet. How can I ensure that my property stands out from the rest? A. Statistics show that 75 per cent of all property related searches now stem from the internet. There are [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 23, 2012 FINANCIAL TIMES Web pioneer sues over iTunes A General Electric-owned company is squaring up to Apple in a Pennsylvania courtroom over whether its patents were infringed when Apple launched its iTunes platform. The case, which pits two of the US’s biggest companies against each other, is the latest in a string of high-profile patent disputes involving technology [...]
Nationwide mortgage lending jumps by 44pc May 23, 2012 Nationwide, Britain’s biggest customer-owned financial services group, reported a 44 per cent increase in loans to home buyers in its last fiscal year, including a sharp rise in the number of mortgages provided to first-time home buyers. Gross residential mortgage lending rose to £18.4bn in the year to 4 April, up from £12.8bn the year [...]