House prices in England and Wales fell by 0.4% during December, with 36% of postcodes recording declining prices, according to Hometrack.
Overall, the value of the average home ended 2010 down 1.6%, with 71% of the country seeing prices dip on an annual basis.
However, across 15% of postcodes (notably London and the South East) prices [...]
England
Hometrack: house prices down 1.6% in 2010
House price slippage continues
Latest figures from the Land Registry show the average price of a home in England and Wales falling by 0.6% in November, marking the third consecutive month of decline and taking annual growth down to 2.2%.
The average house price stood at £164,773, the lowest level seen in a year.
London experienced the greatest monthly rise [...]
Fewer long-term empty private homes
The number of long-term empty private homes in England has fallen for the first time in three years, according to the latest annual Empty Homes survey from Halifax.
As at April 2010, 295,519 homes had been vacant for more than six months, down 6% from a year earlier to the lowest level since 2007.
Empty dwellings accounted [...]
Improved credit conditions to support 2011 house prices
Estate agent, Chesterton Humbers, has joined forces with the Centre for Economics and Business Research to forecast house price movements in England and Wales in the year ahead.
Fired by the near accuracy of its predictions for 2010, the firm dismisses suggestions that public spending cuts, weakening employment and a rise in forced sales could result [...]
Communities Secretary Eric Pickles has lost a court battle over his decision to scrap the last government’s regional housing targets in England
Eric Pickles housing move ‘unlawful’

Communities Secretary Eric Pickles has lost a court battle over his decision to scrap the last government’s regional housing targets in England.
The move was ruled unlawful by the High Court.
Housing developers had asked the court to block it, arguing Mr Pickles had abused his powers.
Mr Pickles had said he wanted to return planning powers to local communities. An aide said that no appeal was planned.
The ruling means that controversial plans for building thousands of new homes in each English region could be back on – but a government source said the court ruling was only a “technicality” and would not change anything.
That is because legislation will be published next month that will deal with the issue, he suggested.
‘Parliamentary democracy’
Housing developer Cala Homes (South) Ltd argued that Mr Pickles was wrongly seeking to revoke regional planning strategies through discretionary powers.
Mr Justice Sales, sitting in London, ruled that the Cala Homes argument was “well founded”.
The developer argued primary legislation should have been introduced, giving MPs the opportunity to debate an issue crucial to future planning in England.
It claimed Mr Pickles’s decision “struck at the heart of parliamentary democracy”.
The government argued that regional strategies were made by regional assemblies, an undemocratic tier of regional government, and this undermined directly elected local authorities.
Ian Ginbey from Cala Homes’ lawyers, Macfarlanes, said the legal challenge to Mr Pickles’s decision “wasn’t an attack on localism at all”.
But he said scrapping the targets without anything to replace them had “left a policy vacuum, caused confusion throughout the industry and directly resulted in proposals for tens of thousands of new homes being abandoned”.
He conceded that the High Court ruling might only succeed in delaying the scrapping of the targets until next autumn, when planned new legislation is likely to come into effect.
‘Embarrassing questions’
But he said it could mean that many housing developments rejected on appeal since the targets were scrapped in July could now be back on the cards.
“What today’s judgement identifies is that he (Mr Pickles) wasn’t entitled to make the decision in the way that he did,” Mr Ginbey told BBC News.
David Orr, chief executive of the National Housing Federation, which represents housing associations, said the decision to get rid of the targets was “a hasty and damaging move, which has already seen plans for over 180,000 homes scrapped”.
Shadow communities secretary Caroline Flint said the court ruling “raises embarrassing questions about the way Eric Pickles ripped up plans for desperately needed new homes”.
She added: “The coalition’s housing policies are doing little to meet the aspirations of the hundreds of thousands of families who want to live in a decent home.”
The court’s decsion was welcomed by the Home Builders’ Federation which said it would help local authorities plan new housing developments using the old targets while a new “locally-based” planning system is put in place over the next two years.
But junior communities minister Bob Neill said it “changes very little”.
“Later this month we will be introducing the Localism Bill to Parliament, which will sweep away the controversial regional strategies.
“Top-down targets don’t build homes – they’ve led to the lowest peacetime house-building rates since 1924.
“The government remains firmly resolved to scrap this layer of confusing red tape.
“Instead, we will work with local communities to build more homes. This was a commitment made in the Coalition Agreement and in the general election manifestos of both coalition parties. We intend to deliver on it.”
The court heard Mr Pickles decided in July to revoke the regional strategies, which include house-building targets, introduced under the 2009 Local Democracy, Economic Development and Construction Act.
James Eadie QC, who represented the Communities Secretary, argued in court that Mr Pickles had power to revoke the entire regional strategy tier of planning policy guidance and was entitled to do so as it was not operating in the public interest.
Mr Pickles has been at the forefront of the government’s efforts to decentralise power – and has fought a series of high-profile battles with quango and council bosses over alleged extravagance with public money.
City College Brighton and Hove is urging local construction firms to take on apprentices

City College Brighton and Hove is urging local construction firms to take on apprentices as there is currently a shortage of Brighton and Hove employers in this sector participating in the apprenticeship framework. Taking on an Apprentice can have a hugely positive impact on a business, and during a tough financial climate, it is a cost effective way for a business to invest in their work force. Matthew Carver, Director of local electrical contractors Lucas Electrics, is bucking this trend and encouraging others to follow suit.
Matthew says:
“I think it’s important to train kids properly in a hands-on way. Joe, the apprentice we’ve taken on, is learning really fast while he’ll also be picking up the theory side at College. In the first six months an apprentice will be shadowing you a lot but if you treat them well and train them well, at the end of the day they’ll be making money for you and it’s a good move for any business in the construction industry to take one on.”
Apprentice Joe Cole says:
“I went to a mainstream College to take A levels and it didn’t really work out for me. I just prefer doing practical stuff, its going really well and I enjoy learning, working and earning money at the same time.”
As an additional incentive, a new grant is currently available for businesses who take on an Apprentice aged 16-24 before the end of October 2010. The grant, a sum of £1,500, is in addition to City College’s customer service, including a dedicated skills advisor who guides employers and apprentice through every stage of their training.
For more information on taking on apprentices, contact City College’s Apprenticeship Co-ordinator Krystle Holford on 01273 667788 x 303 or email KHO@ccb.ac.uk
For media enquiries, please call Brian Bell, Marketing Communications Officer, on 01273 667788 Ext. 488 or email bb1@ccb.ac.uk website www.ccb.ac.uk
About City College Brighton and Hove: Situated in the heart of Brighton, City College Brighton and Hove has become an international centre of vocational excellence. Every year 2,000 full-time, 10,000 part time, over 500 Higher Education and 250 14-16 year old students as well as many international and European students choose City College as their place of further and higher education training. In addition, the College provides training to over 2,000 businesses via its ‘City Business Skills’ department which focuses on employer training needs. Offering over 700 courses from basic level right through to business and postgraduate training, City College is working with its partners to develop the workforce of the future.
Contact Name: Brian Bell
Role: Press Officer
Company: City College Brighton & Hove
Contact Email: click to reveal e-mail
Contact Phone: 01273 667788
Company Website: http://www.ccb.ac.uk
More details: http://www.ccb.ac.uk/public
Six charged in £50 million ‘mortgage fraud’
Six individuals have been charged with offences in connection with a series of high value commercial mortgage frauds. Following a hearing at City of London Magistrates’ Court the case has been sent to Southwark Crown Court for a preliminary hearing on 4 January 2010.
The investigation was referred to the Serious Fraud Office in March 2006 by West Midlands Police following a complaint from the Cheshire Building Society.
It is alleged that the defendants participated in a series of frauds whereby they dishonestly obtained loans from banks or building societies that were secured on six commercial investment properties. Each property was transferred between companies controlled by one of the defendants and his associates at highly inflated prices in a series of back to back transactions. On the basis of the grossly inflated prices, fraudulent valuations and forged leases, the defendants applied for and obtained mortgage advances totalling nearly £50 million. The mortgages were quickly defaulted on and the lenders suffered significant losses.
Five individuals, Ian McGarry (d.o.b 10/05/69), Hardeep Sodhi (d.o.b 05/10/76), Fatema Patwa (d.o.b 20/02/62), Saghir Afzal (d.o.b 01/01/62) and Laurence Ferrigan (d.o.b 20/11/61) have been charged with offences of conspiracy to obtain a money transfer by deception and dishonestly obtaining a money transfer. Simon Lawrence (d.o.b 07/04/61) has been charged with conspiracy to obtain a money transfer by deception.
Notes
At the relevant time:
- Ian McGarry was a chartered surveyor at Dunlop Haywards Lorenz;
- Fatema Patwa was the sole principal of her own firm, Patwa Solicitors, based in Birmingham.
- Hardeep Sodhi was a solicitor employed at Patwa Solicitors in Birmingham.
- Laurence Ferrigan was a partner at The CFB Partnership, Wanstead, East London.
- Saghir Afzal was a company director and property owner.
- Simon Lawrence was a partner of Darlingtons Solicitors in, Edgware
Serious Fraud Office, Elm House, 10-16 Elm Street, London, WC1X 0BJ
Press Office tel: 020 7239 7001/7004 or mobile: 0781 807 6688
Main switchboard tel: 020 7239 7272
press.office@sfo.gsi.gov.uk – or via – www.sfo.gov.uk
Lambert Smith Hampton say flexibility the future for commercial property
Lambert Smith Hampton say flexibility the future for commercial property
CAMBRIDGE, ENGLAND, November, 2009
Andrew thinks more business incubators are needed for start-up and fledgling companies rather than traditional office space. He warns that Cambridge will have to diversify in the future, and reduce its reliance on the R&D and professional services sectors.
Andrew said that the digital and media sectors are far more relevant, and they are going to require a different focus in terms of property. He feels that the market needs to develop its technology centres so that business can function successfully in the 21st Century.
Difficulties arise when smaller traditional office units are occupied by companies that experience rapid growth. It is these fast-growing companies that need flexibility rather than to be restricted by traditional lease structures. A solution needs to be found to enable such businesses to develop and change quickly.
Andrew said:
“Old fashioned lease structures, where tenants take on a lease for a lengthy period of time, have disappeared for good. It is now important to look at new flexible lease structures. However, this will present difficulties for developers and investors resulting from a lack of certainty of income.
“From my experience, most occupiers will pay more for flexibility and operational efficiency which will result in higher rents per square foot. It is a question of changing the mindset of landlords.”
Andrew sees diversity as the key to future economic growth, and believes there is now a pressing need for a new type of building to meet demand.
The next stage is to consider how to invest in property offering flexible terms, as many companies don’t wish to occupy traditional buildings. Fast growing companies need buildings that will evolve with product development, and following ongoing investment present a better whole life cost.
Andrew goes on to say:
“Developers have provided bespoke buildings in the past, but in these turbulent times investment and funding markets are going to have to get their heads around the implications before they appreciate the opportunities. That said, I don’t believe speculative building will return for at least 12 months. We will need to demonstrate that occupier demand has returned before that happens!
“The banks haven’t been doing any major lending in the commercial property sector recently, and, going forward, they will be looking for developers to take more risk and put more money into projects. A traditional approach, but one that is unlikely to facilitate the changing face of commercial property.”
Andrew Gordon
Director
Lambert Smith Hampton
Cambridge Office
Tel: 01223 276336
Email: agordon@lsh.co.uk
LSH is a leading commercial property consultancy with an unrivalled national network focused on the UK and Ireland property markets. Its expert teams deliver a full spectrum of transactional and consultancy services and business-driven solutions for clients. LSH is the ‘UK’s most active national agent’ and ‘Top National Office and Industrial Agent’ (Estates Gazette’s ‘EGi Deals Competition’).
Lambert Smith Hampton’s (LSH) Cambridge office is a commercial property consultancy providing property services and advice in Cambridge, the surrounding area and nationally. With LSH clients have the added advantage of each office being backed by the strength of a national office network. For clients, this means 10 key divisions and over 850 professional staff working together to address the commercial property difficulties you may face, anywhere in the UK.
Lambert Smith Hampton is a founder member of the Elite Cambridge Business Circle.
6 Wellbrook Court
Girton Road
Cambridge
CB3 0NA
UK
Tel: + 44 (0) 122 327 6336
Fax: + 44 (0) 122 327 6226
For more information contact:
Andrew McGahey
Director, Head of Cambridge Office
Lambert Smith Hampton
Tel: 01223 276336
Email: amcgahey@lsh.co.uk
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Murdoch MacDonald
Fame Publicity Services
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Five free tree seedlings worth £10.00 with every order over £40.00 – GardenSupplies.co.uk offer
Part of commitment to the environment & carbon neutrality

As part of a commitment to the environment and the reduction of their carbon footprint, GardenSupplies.co.uk are offering customers the opportunity to claim five free tree seedlings worth £10.00 with every order placed over £40.00.
Running from 16th November 2009 to 31st March 2010, qualifying customers will have the option of selecting from 11 different species; including English Oak, Ash, Green Beech, Silver Birch, Field Maple and Norway Maple, with the trees supplied as bare-rooted seedlings, 2-3ft in height.
Andrew Henderson, Managing Director, keenly explains the reasoning behind the scheme:
“Since the launch of our business, we have always been acutely aware of our carbon footprint, and have worked hard to minimise such where possible. The free trees promotion is an extension to that commitment, and presents a tangible benefit to our customers.”
“The planting of trees not only takes in carbon dioxide, but creates oxygen – which is why trees are widely regarded as the lungs of the earth. Not only that, but trees can make a marked improvement to the look and feel of a garden, and our primary aim is to ensure that customers get the very best from their garden. The trees would also make a very thoughtful gift for the gardener who has everything,” he added.
Further information on the promotion can be found at the following address: http://www.gardensupplies.co.uk/content/free-trees.aspx
About GardenSupplies.co.uk:
Launched by husband and wife team Andrew and Zoe Henderson, GardenSupplies.co.uk has been developed to provide an extensive range of quality garden supplies for every gardener.
With the provision of first-rate customer service at the core of the e-commerce operation, GardenSupplies.co.uk dedicates itself to complete customer satisfaction.
The inclusion of a no quibble, free of charge return policy allows customers to purchase with abundant confidence, whilst the implementation of carefully selected secure technologies safeguard every transaction.
With an extensive and exciting range of over 900 products that cover all aspects of gardening – from Grow Your Own products from the likes of Burgon & Ball, Haxnicks, Garland and Stewart Garden Style, to organic compost from Vital Earth, and ranges of garden footwear and gloves from Town & Country and Laura Ashley – GardenSupplies.co.uk offers products that will allow customers to grow, decorate and maintain their outdoor space, but, above all, allow them to get the very best from their garden and contribute to the enjoyment of spending time within it.
With three fully functional warehouses and efficient order processing and stock management systems, all orders are picked, packed and dispatched without unnecessary delay.
Press Release Contact Details:
Garden Supplies Ltd.,
Norton Road, Snitterby, Gainsborough, Lincolnshire, DN21 4TZ
Telephone: 01673 818046
Fax: 01673 818444
E-mail: enquiries@gardensupplies.co.uk
Web: www.gardensupplies.co.uk
Recycled building modules used by Foremans for First theatre training centre in the north of England

Foremans Relocatable Building Systems, the UK’s largest supplier of refurbished and recycled modular buildings, has completed a new theatre training centre at Freeman Hospital in Newcastle-upon-Tyne – the first clinical training facility of its kind in the North of England.
Newcastle-upon-Tyne Hospitals NHS Foundation Trust appointed Foremans to provide the new single-storey building to enable staff from across the North to participate in the latest interactive simulated training in clinical procedures.
The scheme comprises 10 pre-owned steel-framed modules which were recycled and refurbished for this project, enabling it to be delivered in just 11 weeks from receipt of order to handover. This short programme allowed the Trust to bring the facility into use as fast as possible to meet demand, and facilitated access to national funding. The centre is now running at full capacity.
The building features clinical education rooms with a control room for each, seminar rooms, offices, toilets, storage facility and a category 6 containment laboratory.
Foremans also supplied an audio door control system, security alarms and fire detection system, and implemented a traffic management plan to minimise disruption during the building delivery and installation phase.
Commenting on the three recycled modular buildings that Foremans has now supplied at Freeman Hospital, Steven Bannister, the Trust’s Director of Estates and Facilities, said, “Foremans has been able to provide exactly what we needed for each project, and to challenging deadlines. Timing is critical to the Trust, in order to bring the buildings into use in the shortest possible time, and new manufacture or site-based construction would have taken much longer.”
“The environmental performance of our buildings is also very important to the Trust. The pre-owned modular approach enabled us to offer a higher degree of sustainability with the use of recycled modules. We are very pleased with Foremans’ performance on these three schemes and would have no hesitation in recommending their approach or in using it again.”
Foremans has also constructed a new medical electronics building at Freeman Hospital, which enabled the department to be relocated for the consolidation of clinical services on this constrained hospital site. The new building, which comprises 14 recycled modules, provides more storage space and a more appropriate working environment for the medical electronics team. It was delivered in a challenging timescale of just 10 weeks from receipt of order, to fit in with the Trust’s wider development programme.
When the Trust needed to relocate the estates and stores building to accommodate a new data centre, Foremans supplied a purpose-designed two-storey stores facility using pre-owned building modules. This solution ensured continuity of service and the centralisation and more efficient management of the hospital’s stores.
Foremans specialises in the supply of quality refurbished and recycled modular buildings, designed to individual project requirements. In addition to its sustainability benefits, the approach offers a range of other advantages:
- A cost-effective alternative to new build
- Programme times for high quality temporary or permanent accommodation are reduced by up to 70 per cent
- Off-site working is maximised for safer, quieter and cleaner sites and reduced disruption
- The buildings can be easily expanded, reconfigured or removed if space requirements change
- High quality steel-framed modular buildings are built to last and require fewer groundworks than traditional site-based construction – further reducing cost, disruption and programme times.
For more details on this project and to learn more about the advantages of choosing a second hand modular building, please visit http://www.foremansbuildings.co.uk/
-ENDS-
Editor’s Notes
- The use of recycled modular buildings is one of the most environmentally sound methods of construction:
-
- It generates less than 10 per cent of the carbon emissions and uses less than 3 per cent of the energy during construction, compared to a newly manufactured building of equivalent size (source: MPBA/Arup).
- It is highly thermally efficient. In England, tests for air permeability on pre-owned modular buildings are not compulsory. However, in independent tests, Foremans recycled modular buildings have performed up to 80 per cent better than Building Regulations requirements. This means reduced energy consumption, and lower running costs and carbon emissions.
- Foremans offers the UK’s largest selection of refurbished Portakabin buildings available from stock. It provides a nationwide service from its 30,000 sqm production centre in East Yorkshire, and its southern regional office in Dunstable.
The company offers a full range of construction services, including planning, finance, design, space planning, project management, groundworks, fitting out, delivery, site installation, testing and commissioning.
Tel: 01964 544344. info@foremansbuildings.co.uk
Postal address
Catfoss Lane, Brandesburton, East Yorkshire YO25 8EJ
Buy-to-let fraud hits thousands
Detectives are investigating one of Britain’s biggest buy-to-let schemes in which large numbers of investors have seen their savings wiped out.
They fear thousands of people who sought to cash in on the buy-to-let dream during the boom years of 2004 to 2007 may turn out to have been victims of organised fraud.
The Sunday Times – David Leppard
The Serious Fraud Office (SFO) is investigating alleged scams that have cost government-owned banks such as Northern Rock, Royal Bank of Scotland and Bradford & Bingley millions of pounds on loans that should never have been made.
Senior police officers said the full scale of the buy-to-let scandal was only beginning to emerge in the wake of the credit crunch and the collapse of house prices.
One chief constable said: “We can expect to see one or two of the same type of [scheme] emerging in every major city.”
The SFO said last week it was investigating two alleged buy-to-let frauds, involving properties in Leeds, Cardiff, Nottingham, Derby, Liverpool, Hull, Newcastle upon Tyne, Glasgow and London. Police in Greater Manchester, the West Midlands, and West Yorkshire are also involved in the inquiries.
At the centre of one of the biggest police investigations is Morris Properties, which specialised in student new-build flats and refurbished homes in Leeds and the northeast. It sold 1,000 properties before going bust last summer.
The firm was established by Simon Morris, a local developer who built up a £69m fortune by selling buy-to-let properties.
Morris’s firm lured investors with promises of substantial “discounts” on flats that were allegedly overpriced, and guaranteed rental income, which in many cases failed to materialise. Investors, drawn in by the mirage of ever-increasing house prices, were easy prey.
With property prices now falling in some areas by as much as 50%, many of those investors are facing ruin. The victims include doctors, nurses, teachers and builders who have seen portfolios worth hundreds of thousands of pounds vanish. Many have had their properties repossessed or been forced to sell at knockdown prices.
A whistleblower who once worked for Morris and fell into debts of £500,000 after making buy-to-let investments with the firm said he had received threats after helping the police. Morris denies any wrongdoing.
Last week Morris was accused by lawyers representing 133 of his former clients of overseeing a scheme in which flats were sold to innocent investors for as much as 100% above their real value.
Hammad Ahmad, a solicitor with Max Gold Partnership, said his clients would launch a group legal action in the new year against the Morris companies and several conveyancing solicitors and valuers involved in the sales.
Thousands of Home Owners and Utilities at Risk from further flooding
Home owners devastated by the floods of 2007 and previous years still at risk and growing concerns surface for public utilities including electricity, water and sewage service supply.
Another year gone by and little or nothing has been done by government to address the flooding problems
The following two BBC articles illustrate the extent of the problem:
Environment Secretary Hilary Benn has rejected claims by a committee of MPs that Britain’s flood preparations are in a “chaotic state”.
The Environment, Food and Rural Affairs committee said the UK is still not prepared for the sort of flooding which hit much of the country last summer.
And it warned an extra £800m pledged to improve readiness was not enough.
Mr Benn said the government was already taking action in many of the areas identified in the report.
More than 55,000 homes and businesses across central, northern and South West England were devastated by last year’s floods, which killed nine people and left an insurance bill of about £3bn.
‘Confused and chaotic’
In its report, the select committee said there had been a “total lack of awareness” about how vulnerable many parts of the country were to flooding before the downpours.
“The public will not forgive the government if it is not seen to be responding to the lessons learnt from the floods of last summer,” said Michael Jack, the committee’s chairman.
“Our report has shown how confused and chaotic was the infrastructure when it came to preventing and dealing with surface water flooding.”
The report said flood defence measures have been focused almost solely on river and coastal defences, with plans to cope with heavy rainfall in an “unclear and chaotic state”.
No organisation had responsibility for dealing with surface water at a local or national level, and when drains began to overflow it was hard to see who was responsible for the drainage system, the committee said.
Planning changes
Ministers had repeatedly suggested the £800m a year for flood management by 2010/2011 would allow the government to deal effectively with future crises, the committee said.
But the settlement for flood defences made under the Comprehensive Spending Review was “far less impressive under close analysis”, it added.
Mr Benn said he “welcomed” the committee’s report but said action was already being taken to improve readiness for another major incident.
Changes to the planning laws would make it more difficult for homeowners to “concrete over” their front gardens – which he said was one of the causes of surface water flooding.
“The truth is that if we concrete over, pave over, tarmac over ground in our towns and cities and it rains like that then the drains get overwhelmed and the select committee recognises that,” he told BBC Radio 4′s Today programme.
“And what we need to sort out – what we had already recognised – is clarity of responsibility for making sure that the bits of the surface water drainage system fit together.”
Spending ‘doubled’
The right of new developments to automatically connect to the public sewerage system was also being reviewed, he added.
And the environment agency had been given “overall responsibility” for dealing with flooding and there was now a “single chain of command”.
Walham electricity switching station had a close escape after last summer’s floods
He denied there was a shortage of funds for flood defences.
“We’ve doubled the spending on flood defence in the last ten years.
“We’re increasing it by about another two hundred million pounds a year by 2010-11.
“Last summer, the Association of British Insurers said we should be spending about £750m a year by 2010-11 – actually we’re going to be spending £800m – and that’s going to mean the environment agency has more money to spend on more flood defence schemes to protect more peoples’ homes.”
Meanwhile, a confidential government study seen by the BBC suggests hundreds of UK power substations and water treatment plants are potentially at risk from flooding.
The report warns that “there are likely to be hundreds of sites at the highest levels of criticality” and says that “the risks posed by natural hazards are already rising and are predicted to rise further”.
It concludes that it would “be imprudent to rest on the basis that events on the lines of those which happened last summer were so infrequent as to reply on a reactive response alone”.
Most homeowners hit by last summer’s floods remain unprepared for a repeat, an insurance company survey suggests.
Some 83% of residents of Gloucester, Tewkesbury, Hull, Sheffield and Rotherham believe there is nothing they can do to protect their homes.
Of 1,500 people surveyed for Norwich Union, 95% had not secured their properties ahead of the threat of further flooding this summer.
A total of 29% also were unaware that their homes were at risk again.
Yorkshire, Gloucestershire and Worcestershire were worst hit by last year’s floods, which the Association of British Insurers says led to 180,000 claims totalling about £3bn.
Mary Dhonau, chief executive of the National Flood Forum, said: “Having been flooded myself, I know what an awful experience it can be.
“The findings of this report have shocked me because there is so much more people can do than using the humble, not to mention ineffective, sandbag.
“As someone who has witnessed the huge benefits of flood-resilient repairs, I’m a huge advocate of taking measures to protect your home.
“Adapting or altering your home can significantly lessen both the practical and emotional impact of flood.
“Not only can damage to your personal possessions and furnishings be reduced, you could be back in your home quicker after a flood if you have to move out at all.”
Flood defences
Simon Black, head of flood mapping at Norwich Union who produced the survey, said: “We believe that everyone has a responsibility to help reduce the risk of flood damage.
“That includes the government, with continued investment in flood defences, and the homeowner.
“While home insurance will protect people from the majority of costs caused by flooding, no insurance policy can replace those significant personal belongings with sentimental value.
“Similarly, no policy will be able to spare families the inconvenience and stress of being forced from their homes while it is being dried out and repaired.”
Flood protection for houses includes flood boards for door frames in case of flash floods, one-way valves on water outlet pipes and water-resistant sealants around doors, window frames and on bricks and mortar.
Inside Track – The Story
Congratulations go to Guardian reporter Tony Levene for investigating the background to Inside Track.
Experienced property investors had been waiting for some time for the wheels to come off this organisation.
Champion of buy-to-let boom succumbs to credit crunch
· School for ‘property millionaires’ collapses
· Mortgage famine hits sales in UK, US and Spain
- The Guardian,
- Tuesday April 29 2008
- Article history
The following correction was made on Tuesday April 29 2008
In the article below we referred to membership of a “property club”, run by Instant Access Properties, which came “for further payments of up to £110,000″. This should actually have read “up to £10,000″. This has been corrected.
Inside Track, the company that spearheaded the buy-to-let investment boom, is to go into administration early this morning. The demise of the firm, which once promised to show customers “how you could give up work and be a property millionaire instead”, comes as buy-to-let mortgages dry up amid tumbling values for British new-build flats, Spanish apartments and Florida homes.
Inside Track blames the credit crunch for its collapse as banks tighten up on buy-to-let lending, effectively ending 100% loans. Profits for the group three years ago were as high as £12m, but internal management accounts for the nine months to January 31 this year show income of just £239,000, with a £97,000 loss in January alone.
Its attractions had started to wane before mortgage rationing, as critical attention in the media – including the Guardian – focused on “minus millionaires”, customers owing banks more than they could afford as promised rental yields failed to materialise and property values started to tumble.
Inside Track Seminars, which labelled itself “Britain’s biggest property investment company”, was set up in 2002. It specialised in holding “free workshops” at hotels across the country. Lasting about two hours, these painted a world where anyone could become a “property millionaire”. But it was a model that depended on a rising housing market.
Founder Jim Moore, who spoke at the early seminars before moving to Spain, told prospective investors they could “start from scratch, live on easy street instead of struggling for a living”. As house prices soared, it was a message that attracted an increasing number of wannabe property millionaires. Although the workshop was free, it was a taster for a weekend seminar of “property investment education”. This could cost £2,495. Those attending were then offered – for further payments of up to £10,000 – membership of “a property club” run by an associated firm, Instant Access Properties.
The main Inside Track thrust was buying “off plan” – purchasing properties for a small down-payment, often years before completion. Investors were then told to sell before the property was finished, taking advantage of an expected rise in prices. This was known as “flipping” and landlords were encouraged to re-invest the profits into more off-plan purchases.
Prospective landlords were promised expertise and due diligence. But in March 2006 a London court was told that Lorraine Captan, Moore’s then sister-in-law, who was “taken on to source properties had no contract and no experience. She was not a professional valuer but a newcomer to the property process.”
By 2005, amid talk of a stockmarket flotation, Inside Track’s overall pre-tax profits hit £12.1m. It is difficult to calculate how much of that came from the company itself due to intra-group transfers. In 2006, group profits fell to £10.8m, then there was a steep slide in 2007 to £6.9m.
In documents filed at Companies House, the directors state: “We are aware that the risks to the company’s ability to trade are impacted by the general economic environment, the current housing market sentiment, and the lack of liquidity in the financial markets.”
In early March, Inside Track announced it was ending its workshops as interest in buy-to-let diminished. The last seminar, at Warrington this month, attracted fewer than a dozen people. Attendance at workshops had fallen from 31,722 in the year to March 31 2006 to 25,265 in the following 12 months. More crucially, those who converted to paying seminar customers slumped by a third from 5,917 to 3,834.
The shares of both Inside Track and Instant Access are held by majority shareholder Pearson Foundation, based in Panama, and three Isle of Man trusts including one designated for Jim Moore and his former wife Kim.
Instant Access is, for accounting purposes, the company into which trading figures for Inside Track Seminars are consolidated. Instant Access is not subject to any administration order and will continue trading as normal for its members, as will the group’s in-house mortgage broker, Fuel.
Descent and rise
Jim Moore, Inside Track’s founder and substantial shareholder, first came to prominence in the late 1980s for his role in L’Arome, a pyramid-selling perfume company. After a lawsuit brought by Chanel, L’Arome went bust, owing £6.5m and leaving 180,000 distributors with unsellable scent. He was, he said, “broke, massively in debt”. A decade later, he rediscovered his ability to galvanise with promises of quick riches through Inside Track. Moore earned millions from selling the buy-to-let millionaire dream.
In 2004, his marriage to Kim broke up. The couple have since been arguing over a settlement. Today, a court will announce that the former Mrs Moore has been awarded £15m.
Link to original Guardian article
Inside Track Reported to be in Administration
Administration for Inside Track say Mortgage Solutions
Inside Track, a firm specialising in property seminars, has gone into administration.
However, its sister company, buy-to-let broker Fuel Investments, is said to be unaffected by the development.
A taped message on the Inside Track’s phoneline states that the move has been forced by the continued sustained difficulties of the credit crunch.
Jeremy French and Glyn Mummery of Vantis plc have been appointed joint administrators.

























