The credit crisis has had a significant impact on pay in the housing sector – as housing association employees pay rises for 2009 are being cut by an average of almost 30 per cent. A survey questioned 90 housing associations, representing a cross section of different sized associations, and found that the average predicted pay
The level or arrears and repossession should be lower than the early 1990s, the head of the Financial Services Authority (FSA) said yesterday, as the short-term financial position of many borrowers had been improved by low interest rates. Lord Turner added he is still considering regulating the size of mortgages being made available â limiting
Councils are facing a funding gap of up to £7 billion this year because of a fall in section 106 contributions. EC Harris consultancy estimated that the fall in anticipated income from ‘planning gain’ deals where developers agree to provide affordable housing in return for planning permission, will get worse. A spokesperson said that as
More people live in poverty in outer London than in inner London, new research has found. The study found that 54 per cent of Londoners with low incomes live in outer London, up from half 10 years ago – and more children were affected by poverty in outer (380,000) than inner London (270,000). Overall, London
Planning applications to local councils have dropped by an average of almost 19 per cent, causing a drop in income averaging 16.3 per cent across England. The amounts ranged from a 50 per cent fall in income in Cambridge to a 27 per cent increase in Kerrier. Councils believe the overall fall is the result
Disposable income has dropped ‘abruptly’ for more than two-thirds of British households, while the number of people struggling to pay their rent or mortgage is at the highest level for 13 years. A report published by the Bank of England shows that an increase in the cost of food, energy and home loans meant that
Barratt Developments and Redrow have released their half yearly figures and both showed big losses in revenue. Redrow’s income fell 58 per cent in the last six months of the 2008 to finish the year with a pre-tax profit of £46.2 million it reported yesterday. Meanwhile today Barratt reported a fall of 23.7 per cent
The level of fines levied against individuals for mortgage fraud so far this year has overtaken the number for the whole of 2008. The Financial Services Authority (FSA) said in the last 18 months it had stepped up pressure against fraudulent brokers who operated during the boom, with fines totalling £302,445 in the first quarter
More than 85 per cent of local councils across England have seen a drop in income from planning applications, while three-quarters of councils have seen the amount of money they collect to pay for frontline services drop during the past few months. The survey was commissioned by the Local Government Association and demonstrated the effects
A new study by the Institute of Public Policy Research has found that there is no evidence to suggest that large-scale migration from eastern Europe since 2004 has had a negative impact on wages or unemployment. Figures out this week from the Homes Office found a 47 per cent drop in the number of migrants