Bank of England governor Mervyn King ruled out an extension to the special liquidity scheme and warned the government not to try to offset the mortgage lending drought by bankrolling the market. He said any public sector funding would ‘severely undermine’ attempts by banks to balance their books. SpeakingRead More →

And in related news, a House of Commons communities and local government select committee says councils should have more autonomy to shape the development of their communities. The MPs found that large city and county councils feel that they are not being given sufficient scope to develop their role,Read More →

Investment bank Morgan Stanley predicts that house prices will fall by 15 per cent in the next two years, pushing one in 10 homeowners into negative equity, with first-time buyers being particularly affected. The report warns that these estimates may be too conservative as the figures do not takeRead More →

Almost 150,000 homeowners who took out a mortgage since early 2014 are facing negative equity. According to a CACI survey for the Daily Telegraph, one in eight of the 1.2 million people who bought a property now owe more than the home is worth, and if house prices fallRead More →

Private tenants are routinely being ‘conned’ by letting agents imposing unjustified fees for providing a poor or nonexistent service, a report from the Citizens Advice said today. It said that it was dealing with 6,000 tenants’ complaints a year regarding letting agents, and that the behaviour of some isRead More →