Price war
Mayes, Suzie
Price war - 2009 - Housebuilder 68(5) June 2009, 18-20(3) .
Reports on the malpractice of downvaluing by property clubs, who combine to purchase several new houses with a discount and then do not declare this discount to the lenders. This deceit has been highlighted since the downturn in the housing market, causing many lenders either to not lend for new house purchases or to put onerous conditions on them. The Home Builders Federation (HBF) have introduced a Code of Conduct, RICS have brought out new guidance, and the Council of Mortgage Lenders (CML) have a new "disclosure of incentives form" - all designed to restore confidence.
United Kingdom--
Price war - 2009 - Housebuilder 68(5) June 2009, 18-20(3) .
Reports on the malpractice of downvaluing by property clubs, who combine to purchase several new houses with a discount and then do not declare this discount to the lenders. This deceit has been highlighted since the downturn in the housing market, causing many lenders either to not lend for new house purchases or to put onerous conditions on them. The Home Builders Federation (HBF) have introduced a Code of Conduct, RICS have brought out new guidance, and the Council of Mortgage Lenders (CML) have a new "disclosure of incentives form" - all designed to restore confidence.
United Kingdom--