Europe’s woes hit global demand for luxury homes
LONDON (Reuters) - Demand for the world’s priciest houses is likely to cool this year after two years of strong growth, as concerns over Europe’s debt crisis, the health of the global economy and governments price cooling measures in Asia dissuade buyers, research showed.
Banks restrict lending to existing customers
More people are applying for loans but fewer are securing one, and those banks that are lending are only doing so to their existing customers
Taxpayer may lose 2 billion pounds on Northern Rock rescue
LONDON (Reuters) - Taxpayers could lose up to 2 billion pounds from the government’s 2008 rescue of mortgage lender Northern Rock by the time all the assets are wound down, according to the spending watchdog.
Euro zone turmoil boosts London property stampede
LONDON (Reuters) - Worsening financial and political turmoil in southern Europe caused a surge of interest in London property last month with buyers from Greece and Spain showing strongly among investors seeking a safe haven for their money.
