Originally written by Sean O’Grady, Economics Editor, Independent. British households are repaying record amounts of mortgage debt, sharply reversing the trend that saw many consumers using their homes as “ATM’s” to fund spending as they moved into positive equity. The turnaround reflects depressed household confidence and the diminished value of housing. The Bank of England [...]

House Prices have crashed over the last few months. Were prices overinflated, leading to a correction in the property market. Or is it that the UK economy is in real financial trouble? The property market had been flourishing for many years and many people thought that the good times would continue for the medium to [...]

RICS Residential Survey – New management instructions out pace the demand from tenants. – Rents decrease for the first time since April 2003. – Rental level expectations drop to the lowest level on record. – Gross yields rise as house price falls outpace rental decreases. Simply put, people can not get finance, a decent mortgage [...]

Everyone agrees the UK is experiencing a credit crunch and now people are debating whether we are in a recession. Either way the UK economy is experiencing financial difficulties and the government is looking to borrow more to stimulate the economy. There is a lot of speculation as to why the credit crunch occurred to [...]