FSA Warnings

That rumbling you can hear is the sound of the horse bolting just as the Financial Services Authority tries to shut the stable door. Tuesday’s speech by the UK financial regulator’s director of retail markets, Clive Briault, warning of dark days ahead for mortgage lenders, was a statement of the bleeding obvious. With house prices falling – the latest Halifax survey shows prices fell 1.1% in November, the first time they have fallen three months in a row since 1995 – and wholesale and interbank ...