Last week’s top five stories:
1) Only 400 homes reserved through NewBuy scheme
Just 400 homes have been reserved through the government’s NewBuy scheme in the nine weeks since its launch, according to the Home Builders Federation (HBF).
2) Clegg promises “massive” increase in housing investment
Liberal Democrat leader Nick Clegg has signalled the government is ready to loosen its austerity drive with a “massive” increase in state-backed investment into housing and state infrastructure.
3) A little less conversation, a little more action
We continue to see regular discussions about the housing crisis in the UK and the role of the Government in getting things moving.
4) Adviser jailed for £250k fraud and perverting course of justice
A financial adviser who admitted to fraudulently gaining almost £250,000 from clients and an insurer, as well as perverting the course of justice, has been jailed for three-and-a half years.
5) Mortgage fees won’t be set by quality, five lenders confirm
Nationwide, Barclays, Platform, GE Money and Virgin all denied they are considering tying adviser fees for mortgage applications to a quality metric.
Here’s some stories you may have missed:
More networks contemplate Abbey fast-track exit
More brokerage networks are considering withdrawing from Abbey for Intermediaries’ fast-track facility, following a number of exits from the scheme in the past seven days.
Fraud fighters
The National Fraud Authority has estimated the mortgage industry will face losses of £1bn to fraud this year.
Zoopla seals record sponsorship deal with West Brom
Property research company Zoopla has announced a sponsorship deal with Premier League football club West Bromwich Albion.
Greece to exit euro on 1 January, 2013 – Citigroup
Citigroup’s top economist Michael Saunders has forecast Greece will exit Europe’s single currency on 1 January 2013, and its new currency will immediately depreciate by 60%.
Poll result: Government initiative boosts demand for self-build homes
The government’s decision to promote self-build homes has seen an increase in the number of consumers making enquiries about such properties, according to the latest Mortgage Solutions poll.
Our coverage of the Mortgage Business Expo in Manchester:
Don’t blame MMR for tight lending – FSA
The FSA’s Lynda Blackwell said that its too easy to blame the Mortgage Market Review for lenders tightening lending policies.
Protection sales offer diversity – Brodnicki
Mortgage Advice Bureau’s Peter Brodnicki has told mortgage advisers to up the number of protection plans sold alongside mortgages.
FSA: Work to define advice for internet sales underway
The FSA told delegates that more work still needs to be done to clarify the position of advice and internet sales in the MMR.
Base rate on hold until 2014
Mortgage industry experts predict the Bank of England’s base rate to remain at 0.5% until at least the start of 2014.
UK lenders must “be braver”
UK lenders must use risk pricing to return 100% and sub-prime mortgages to the market, said Wriglesworth chairman, John Wriglesworth.
Tweets of last week:
Lea Karasavvas @Mortgage_Mind
With inflation at a 26 month low & the sun shining I am tempted to partake in an alcholic refreshment! A pint of Mythos to help out Greece!
Dale Jannels @DaleJannels
Lovely sunny day and I spent most of it in the car on way to Manchester! Roll on expo tomorrow #mbe2012.
Danny Shaw @DannyShawBBC
Ex-Lloyds Banking group executive charged with a £2.5 million fraud. Jessica Harper was head of fraud and security for digital banking.
