The latest rumblings of discontent around the financial community have been centred around the issues that beset Dubai, the land where dreams have been built, quite literally, in the sand.
Unfortunately, the sand seems to be capricious ground at best, and another wave of banking losses have been predicted, with reports of anything around the $40 to $50 billion level being the amount that European banks are exposed to. Then again what’s this piddly amount between friends after the recent figures we have seen bandied around?
Next week I am jetting off to Houston, of all places, for a few days with a couple of mates, but not, unfortunately, for a well deserved holiday. It would seem that our other mate, there are 4 close friends from our school days, decided to have a serious heart attack at the age of 40. So why am I telling you this?
Well, firstly because I am a big believer in sharing things from a therapeutic point of view, and secondly, because it does bring home how many people do not have any cover should they be unfortunate enough to suffer such a thing.
Forgive me people for I have sinned! It has been far too long since my last confession, sorry, I mean blog post! In the meantime I have been through quite a bit, what with turning 40 yesterday (I know I don’t look it), and experiencing the general ups and downs of life and the mortgage industry, (more in a separate posting).
I have been paying alot of attention to the mortgage and financial press as you would expect, reading with both amusement, hearty agreement and utter despair some of the comments with regards to FSA regulation, self-certification, the behaviour of lenders and brokers, the proposed breakup up of some of our much maligned banking institutions, whilst also watching the pleasing plethora of new rates flooding the market.
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.
