Workers prepared to commute by rail to London are benefiting from house prices that are 60% lower than if they lived close to their place of work, according to new research from Halifax. An hour’s travel outside the Capital, the average home costs £375,000 less than in the centre of London, more than offsetting the [...]
london
Average rent returns to 2010 peak
Rents in England and Wales have regained their November 2010 high, according to the April Buy-to-let Index from LSL Property Services. The month saw a 0.8% average rise compared with March, to £692 per month, with average yield hitting 5.1%. LSL estate agency managing director, David Newnes, says the typical landlord is charging nearly £30 [...]
House price show largest annual fall since 2009
February data from the Land Registry show house prices in England and Wales falling by 0.8%, when compared with January. The typical home changed hands for £162,215 having fallen in value by 1.7% over a year, the largest annual decline since October 2009. However, London showed a positive annual house price change of 3.2% in [...]
Housing market sees stronger regional variations
The UK housing market is experiencing strong regional variations, according to the latest survey from the Royal Institution of Chartered Surveyors (RICS).
London was the only region to record a positive reading for house prices in February, while outside the Capital 26% more RICS members surveyed saw prices fall, rather than rise, with the East of [...]
Recovery in residential land values weakens
The rate of growth in English residential development land values slowed rapidly in the final quarter of 2010, according to Knight Frank’s Residential Development Land Index.
While Greenfield land managed a rise of 2% during the period, English urban land values fell by 1%, and in Greater London the fall was more significant, at -2.5%.
The only [...]
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 [...]
Future housing conference – Council of Mortgage Lenders
Future housing conference information
24 February 2010
Conference time: 0845hrs – 1630hrs
Background
The CML compile and publish a range of statistics on the UK housing and mortgage markets including key data on mortgage lending, arrears and possessions and market segments such as buy-to-let. This unparalleled knowledge and insight into the important role housing plays in the economy is the basis on which this conference programme is built.
The detailed content will help all organisations, not just lenders, operating within the world of housing. The content discussed will be crucial to understanding current and future housing market conditions.
Chaired by Sue Anderson, head of external affairs, Council of Mortgage Lenders
Expert speakers will include:
- Michael Coogan, Director General, Council of Mortgage Lenders
- Rt. Hon John Healey MP, Minister for Housing and Planning
- Peter Williams, housing consultant and Chairman, IMLA
- Steven Hall, director, KPMG
- Bob Pannell, head of research, Council of Mortgage Lenders
- John Stewart, director of economic affairs, Home Builders Federation
- Rob Thomas, senior policy adviser, Council of Mortgage Lenders
Delegates currently booked on include:
- Technical director, Allied Surveyors
- Head of sales, Halifax Intermediaries
- Head of product delivery, HBOS plc
- Team leader, housing regeneration and third sector team, HM Treasury
- Business project manager, Legal and General Assurance Society
Cost:
£275 for members (VAT exempt)
£325 for non-members (VAT exempt)
Our event fees remain highly competitive with prices for members and associates not having increased since January 2007
Location:
The Westbury Hotel, Bond Street, Mayfair, London, W1S 2YF
This event is open to press
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
