Exact CEO Ian Lonergan – Economic outlook
The media and markets have seized on every crumb of good news released in past weeks, but the odd positive announcement – Barclay’s Q1 results were unexpectedly good – shouldn’t confuse our understanding of this recession. It will not right as quickly as it went wrong. March house prices showed a monthly decline of 1.6%, the redundancy axe is poised to swing again this year and unemployment is forecast to top three million by the end of 2009. The fiscal and monetary policy changes announced to date have so far failed to boost the mortgage market by any significant margin. Our latest white paper suggests the current outlook for the housing market isn’t good, despite the occasional ‘blip’ in the Halifax and Nationwide house price indices…
Feature Article
Building Societies – Continue to count the cost of the crunch
Alan Cleary – Managing Director, blames the ratings agencies: Building societies have been under the spotlight in recent weeks after Moody’s downgraded nine, some to just one notch above junk status. But why? This was a massive overreaction from Moody’s because they screwed up their ratings on the way up…
Other storiesGet mortgage cash to people with power to spend itWhy hasn’t the government given any of its bank bailout cash to local authorities? With the help and expertise of specialist lenders councils could get cash back in the hands of people who would spend it. |
John Murray – Lenders in limboLast November I found myself envious of my friends in America. They were going to the polls to elect a new President… |
Credit Director Chris Preston Breaking the fraud tabooNo one likes admitting they’ve made a blunder and it’s no different for lenders and mortgage fraud |
Exacts Latest White PaperIn Denial? Exact considers how much further house prices might fall,and why UK commentators appear blinkered to this possibility… Download: May 2009 White Paper |
