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New rules to stop a resurgence in risky mortgage lending are likely to be imposed in 2013 by the Financial Services Authority (FSA).The regulator’s revised proposals still intend to bring in “common sense” standards that will stop home buyers borrowing more than they can afford. Lenders are being told they must assess the affordability of loans [...] The number of mortgage borrowers in negative equity – where their loan is bigger than the value of their house – is 827,000, lenders have calculated.The Council of Mortgage Lenders (CML) said the figures, for the first quarter of 2011, suggest the problem is not as great as in the early 1990s. Then, an estimated 1.6 [...] The top rate of tax could be replaced with a mansion tax or a levy on the richest in society if it is scrapped, according to a senior Liberal Democrat Cabinet minister.The remarks from Vince Cable, the Business, Innovation and Skills secretary, will upset the Tory right which is putting increasing pressure on the Coalition [...] Bank of Ireland has seen its net loss for 2010 fall to 609m euros, (£544m) after negotiating debt write downs from its bondholders.The results came as a surprise to analysts, who had forecast at least double those losses in line with the wider problems in Dublin’s banking sector. Bank of Ireland’s 2009 loss was almost three [...] With unemployment growing and government cutbacks in the pipeline will UK house prices plummet?Maybe not- with two factors stopping sales and prices falling more sharply. One has been the Bank of England’s determination to keep interest rates as low as possible, for as long as possible. And the other has been the lower than expected rise in [...] Mortgage arrears and repossessions will rise modestly next year, the Council of Mortgage Lenders (CML) predicts. The CML says that mortgage rationing by banks and building societies will [...] Pub values have nearly halved since 2007, as drinkers stay at home and the problems of the wider property market take their toll. Most activity, it says, has been in freeholds at the bottom of the market, as pub [...] 58% of Americans expect the US housing market to stay depressed for two or more years, a new survey has suggested. The findings by property websites Trulia and [...] Home owners have so little equity left in the homes after the credit crisis that they are struggling to remortgage, experts warned. The number of loans approved for those buying a [...] Hundreds of thousands of retired home owners face have having their homes repossessed as banks refuse to extend their mortgage terms.Lenders have imposed tight age restrictions on elderly borrowers who have been unable to pay off their mortgage before reaching retirement. Falls in their investments as a result of the worst economic crisis in a generation [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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