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Newbuild starts plummet by 40%

Newbuild starts fell by 40 per cent in January.

Assetz chief executive Stuart Law forecast at the debate that there would be 90,000 newbuild starts in 2008, against a Government target of 240,000.

He said: “New build start-ups are imploding. We are down by 40 per cent in January year on year. We were at 260,000 in 2006 and probably 150,000 in 2007. We have a severe hous- ing shortage which is going to dramatically spike up rents.”

He said the Government’s target should be increased to 280,000 new houses a year.

Hometrack director of research Richard Donnell said there is no chance that the Government’s targets will be met.

He said: “We are stuck in a numbers game. The current policy is just made about big numbers. There is a big chance that we will be building fewer homes in five years time.”


HBOS promotes Stockton and Grant

HBOS has promoted intermediary distribution and specialist banking managing director Philip Grant to chief operating officer of its corporate division.It has also promoted Nigel Stockton to managing director of HBOS intermediary mortgages. This will see Stockton take responsibility for all aspects of the HBOS mortgage intermediary business and its valuation business Colleys.Grant’s new role will […]

Friends Provident comes top in e-excellence survey

Friends Provident has come top in an e-excellence survey of providers by the Financial Technology Research Centre.It received a triple e rating in both the Life Protection and Critical Illness Cover categories.Accreditations were awarded following the completion of a survey examining the e-commerce in place to support Friends Provident’s protection proposition.Friends Provident head of protection […]

Click is first for Officeweb CRM system

The Exchange is offering a new call-centre customer relationship management system based on its Officeweb back-office technology.The system is now operating with independent secured loan and life cover specialist Click. Developed first for Click and in partnership with contact-centre software provider Callmedia, the Officeweb call-centre solution is available off the shelf for financial intermediary businesses […]

Poll puts banks as the big winners from RDR

Only one in three advisers are in favour of the retail distribution review proposals, with fee-based advisers significantly more positive about its introduction than commission-based advisers.A YouGov/Money Marketing survey conducted among 582 advisers, finds that the strength of support for the RDR is strongly correlated with the amount of adviser income that is generated from […]


Out from the long grass? An IT and NI merger

Those with a long memory will recall that at the start of the last parliamentary term George Osborne announced his intention to merge income tax (IT) and national insurance (NI).  Headline grabbing as the initiative was, the reality of the complexities, challenges and costs of such a move resulted in this idea being kicked into the political long grass.


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