New FSA Call Recording Regulations for all Mortgage Markets

In June 2010 the FSA announced a requirement for compulsory telephone call recording which will affect all organisations working within mortgage markets. The new legislation has been introduced to improve mortgage arrears handling and must be implemented by all mortgage practitioners by December 2011. The legislation stipulates compulsory recording of all telephone calls made to clients in respect of arrears handling, and all call recordings must be kept for a minimum of three years.

King Sturge 85% SOLD

Despite current market uncertainties and apparent difficulties in raising mortgage finance, King Sturge is delighted to report that 85% of the lots they offered in their 6th October auction, have now sold at an average of 10.71% over the reserve.

All the sale results have are now showing on their website.

They are now accepting entries for their 1st December auction.


Energy Price Rise

The cost of "rewiring" Britain's energy network could add an average £6 a year to consumers' dual fuel bills over the next decade, the industry regulator has said.

Ofgem said £32 billion worth of investment in pipes and wires was required across the country, twice that seen in the last 20 years, to secure supplies to households and to move to a low-carbon economy.

The watchdog said a hike in bills would support a revamping of Britain's "ageing networks", which were mostly built in the 1950s and 1960s.


Nationwide: House prices up just 0.1% in September

The latest house price index from the Nationwide Building Society has revealed a 0.1% rise for the month of September compared with August, when values fell by 0.8%

The latest house price gain means the annual rate of house price inflation fell to 3.1%, down from 3.9% in August, with the average UK home costing £166,757.

Meanwhile, the three-month-on-three-month rate of change, which is a more reliable indicator or near-term price trend, fell from 0.0% in August to -0.9% in September.


Paragon returns to new lending

Paragon Group has made its much-anticipated return to new lending with a buy-to-let mortgage range targeting professional landlords.

The company will lend through its Paragon Mortgages brand and is to start lending with immediate effect through a panel of buy-to-let brokers.

Paragon will expand its distribution over the next few weeks, and will accept both intermediary and direct business.


Clive Emson' late summer success


Clive Emson's latest triple auction event once again proved a very popular affair. Prospective bidders know that those Lots catalogued are not put to the market to test their popularity but are entered into the catalogue by Clients motivated to sell.

Quick Gardening Tip!

Grow Weed-less

Don’t make the mistake of waiting until the weeds are established before taking action. If that’s your strategy then you’re bound to spend wasted hours of pulling and hoeing in a vain attempt to catch up with overgrown weeds.

Know thy enemy! Being able to identify your weeds from the moment they germinate will enable you to eliminate them when they are young and easier to control. At that time a light cultivation of the soil’s crust is sufficient to kill most sprouting weeds.


Cheffins' Property Auction breaks new ground

One of the largest commercial properties ever offered in Cheffins’ Property Auction sold in the region of its guide price of £1.5 - £1.6 million. The property, New Cambridge House, is a 38,579 sq ft office building in Litlington. Although it was unsold in the auction, a sale was agreed immediately afterwards.

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