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spyguy

Bbc - Foreign Criminals 'driving Up Uk House Prices'

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http://www.bbc.co.uk/news/uk-33662174

Washing money in London property has been going on for years.

Bit of change in tone: Foreign investor -> foreign criminals.

Is it Fu Man Chu?

Are we going to get serious about ownership rules?

Has the US finally had enough and threatened to go all moral on the UK?

Tune in next ...

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http://www.bbc.co.uk/news/business-33649663

Not even trying are they.

Hotting up, eh.

Bit like saying a body in a morgue is not as cold as the others.

"This rise is partly fuelled by record-low mortgage deals. The average two-year fixed rate mortgage has fallen from 3.67% a year ago to 2.75% today, and borrowers are clearly taking advantage of these low rates to secure lower monthly repayments," said Charlotte Nelson, of financial information service Moneyfacts.

"However, with Mark Carney's announcement that base rate is likely to rise in the near future, these low rates will not be around for long."

'Last week, the Council of Mortgage Lenders said the housing market appeared to be "waking up" after a quiet few months.'

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http://www.bbc.co.uk/news/business-33649663

Not even trying are they.

Hotting up, eh.

Bit like saying a body in a morgue is not as cold as the others.

"This rise is partly fuelled by record-low mortgage deals. The average two-year fixed rate mortgage has fallen from 3.67% a year ago to 2.75% today, and borrowers are clearly taking advantage of these low rates to secure lower monthly repayments," said Charlotte Nelson, of financial information service Moneyfacts.

"However, with Mark Carney's announcement that base rate is likely to rise in the near future, these low rates will not be around for long."

'Last week, the Council of Mortgage Lenders said the housing market appeared to be "waking up" after a quiet few months.'

What, these low mortgage deals:

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11762045/End-of-cheap-mortgage-boom-as-big-banks-raise-rates.html

"

End of cheap mortgage boom as big banks raise rates"

Talk about being stitched up.

I still think the fraud office really needs to get involved in the housing market/bank funding....something is just not right

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What about sellers who sell to criminals. Proceeds of Crime?

I'd say so.

They should be hunting these people down like dogs :lol;

What are the tax payer funded london property owning MPs doing about this madness ?

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http://news.sky.com/story/1525061/house-prices-pushed-up-by-foreign-gangsters

Sky is more brazen about it and makes the connection between laundered money and treasury gain.

To be fair to Auntie, the Beeb's story has as its sixth paragraph (and the paragraphs are very short)

"The Treasury has earned £150m in the past three months from a tax on properties purchased by companies, trusts and investment funds, rather than individuals - supporting Mr Toon's claim, the Times said."

There's a link from the Beeb's story to the one in the Times, but most of it's behind the paywall, obviously.

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http://news.sky.com/story/1525061/house-prices-pushed-up-by-foreign-gangsters

Sky is more brazen about it and makes the connection between laundered money and treasury gain.

The Treasury must be raking in millions from these property sales. I wonder what the churn is between criminal gangs buying with dirty money and then selling on to other's with dirty money that suddenly becomes clean? And the UK govt takes a cut for turning a blind eye?

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Talking about foreign criminals does this mean Santander will be scrutinised? Seems the bankers don't like any competition.

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They should just ban the purchase of uk property via foreign privately owned companies. Legitimate investors could still form UK based Ltd companies, or buy as private individuals, and we could probably allow foreign public companies that comply the right accounting practices too.

That would mean everything could be properly audited and directly linked to a particular person, and illegal activity would be reduced.

Edited by ManVsRecession

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