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A Turnip for the books?

Posted by: andrewlund

Our last editorial predicted that in future the Bank of England would use regulatory muscle to prevent any further house price boom and consequential bust. Coincidentally, it seems the Swedes are already at that point. Having had their own housing boom, bust and banking crisis in the 1990s they are now struggling to avoid repeating past mistakes as prices rocket due to low global interest rates. A loan to value cap of 85% introduced in 2010 is credited with a modest slow down in house price inflation but Bloomberg reports the Scandinavians are now poised to make banks hold more capital against their mortgage debt in a further attempt to take away the punch bowl. Given that at present they have about as much credibility as a box of Turnips perhaps UK Regulators should be keeping an eye on the Swedes? 
Andrew Lund
Andrew Lund

Compliance Officer for Legal Practice

Andrew oversees the Firm’s Quality Systems and is committed to making sure that our client’s receive the very best customer care and attention along with the best marketing and legal advice in the area.

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