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CML: Mortgage arrears and possessions conference at the The Midland Hotel, Peter Street, Manchester, M60 2DS
London rental market starts to get Lehman's fallout
Cluttons' report a number of tenants based in Belgravia and Wapping have immediately given notice on their rental properties, following redundancies resulting from the collapse of Lehman Brothers on Monday.
One tenant, an ex-Lehman employee, requested his deposit be used for his final month's rent, as he wasn't sure if he would be paid his salary at the end of September.
Richard Cotton, Divisional Head of Residential Agency at Cluttons comments: "It is too early to assess the true impact of the Lehman collapse on the London property market, but it is not surprising to see city tenants who have lost their jobs already giving notice. I would expect to see more of this over the coming weeks, which is likely to result in a dip in rents in areas which are popular with city workers such as Docklands, Wapping and Belgravia. It is probable that forced sales will also increase in these key areas, as city workers are forced to sell up, whatever the cost."
- Lloyds TSB to acquire HBOS
- CML welcomes extension of Bank of England SLS scheme
- Bank of England extends SMS scheme
- Bank of England to pump $40bn into market
- FSA statement on Lloyds TSB and HBOS merger
- Lending down 36 per cent in August
- Standard Life cuts rates
- ifs School of Finance on target
- UCB launches new product range and lowers rates
- Darling highlights role of regulation in HBOS deal.
- First UK trading emmissions auction announced
- 120 day holiday for short sellers
- IMA says short selling not to blame
- Short selling - who are the winners and losers?
- CML perspective on the current momentous economic events