Price war
Language: English Series: Housebuilder ; 68(5) June 2009, 18-20(3)Publication details: 2009Subject(s): Summary: 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.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L147748 (Browse shelf(Opens below)) | 1 | Available | 147748-1001 |
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.