Sunday, Apr 22, 2007
Review of the week
Firstrung: Property news in focus - Firstrung - 22/04/07
The FSA are warning lenders to manage their risk with a house price correction of 20% in their sights and up to a further 20% loss on disposal if repossessed. Further they suggest that up to 35% of those in default of their mortgages will probably find their properties repossessed. These comments from the MD of the FSA provide, in our humble opinion, the most dynamic piece of property and finance related news of the past week. It must have had plently of guests at the Council of Mortgage Lenders annual lunch choking on their prawn cocktails. Can lenders adhere to these targets and operate within these paramaters, can the BoE control their inflation targets, are both self-inflicted wounds?
Plenty of other items for discussion in our popular review of the week..
4 Comments
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1. Manjit said...
Hi ,
My view is that there will only be a miild possible correction in the uK maybe 3-5%
there is too much foreign tiger economy money hitting the UK as well as so many people wnating to come and live here
2. Manjit1966 said...
Hi ,
No correction ! save harder you whingeers and get on with it !
LOL
3. Scott said...
Manjit is a fool. Real estate prices have NEVER levelled off in any country. They are either going up fast or down fast. To back this up, read up on 1920's Florida, the USA today, Japan in 1990s, Norway in 1970s, the UK in 1990s, Ireland today, I could go on.
And if they have stopped going up in the UK ......
4. converted lurker said...
Well done Manjit, you get the prize for being the biggest tit ever seen on this blog.