London Cash Buyers Send Banks North To Riskier Loans

Virginia (2-3, 0-1 Atlantic Coast Conference) hopes to have a lot of that corrected Saturday at Maryland. The Terps (4-1, 0-1) are hurting, too, coming off an embarrassing 63-0 loss to No. 6 Florida State. Cavaliers coach Mike London, whose team held Pittsburgh to 199 yards two weeks ago but lost 14-3 because its offense couldn’t make any plays, said the turnaround is frustrating, but fixable. “Perhaps maybe focus; attention to detail at that moment, at the precise moment that it calls for you to be at your best,” London said of a possible cause. “… That has to be addressed and it has to be fixed. We’ve got to keep talking about it and keep harping on it until it becomes kind of ingrained.” Harold said the tone of the defense, which came into the game ranked 16th in the country in total defense, spiraled downhill, and continued to suffer as the Cardinals continued making big plays. The big plays contributed to penalties against Virginia, too. Harold was called for a hit to the head on Cardinals’ quarterback Keith Wenning during a sack, and personal foul one of four against the Cavaliers for pushing a player down and a grabbing the facemask penalty. “Like I said, when something happens that you don’t expect, it was a blow because they did it so quick,” Harold said of the first scoring drive. “I was like, ‘What are we doing? Is it the line?

It potentially increases the volatility of the market as and when this scheme is taken away and increases the risks people are taking, he said. The market is recovering anyway. It doesnt make any sense to have it recovering any faster than it already is, he said. U.K. lenders are already targeting the weakest housing markets with riskier loans because the London market is dominated by cash buyers. About 35 percent of homes bought in the U.K. this year were paid for entirely with cash, according to data compiled by broker Savills Plc. (SVS) In London, its as many as 60 percent, with demand driven by purchasers from abroad who view the city as a haven, according to Richard Sexton, a director at e.surv, a unit of LSL Property Services Plc. (LSL) Different Country The London market is like a different country almost, Sexton said. Thats a lot of foreign cash coming in. Gareth Hill, a spokesman for the Council of Mortgage Lenders , a trade association, declined to comment. Spokesmen for RBS, Lloyds and the U.K. Treasury didnt reply to calls and e-mails seeking comment. For the rest of the country, national price gains have been fueled by the Funding for Lending program that allows banks and building societies to borrow from the Bank of England at low rates if they use the cash to fund residential mortgages.

London black taxis turn white for Australia

Robin MILLARD 1 hour ago London (AFP) – The iconic black London cab is to hit the streets in Australia for the first time — though the taxis have been painted white to cope with the Antipodean heat. A shipment of 98 TX4s has been unloaded in Perth for a four-year trial in the west coast city, the first of 200 heading Down Under, manufacturers The London Taxi Company said. The taxis will be plying for hire in Perth, the capital of Western Australia, later this month. “They’re white, which is probably better in a hot climate, but they are also specifically hot-climate vehicles. They have different ventilation to make sure they don’t overheat,” a spokeswoman for The London Taxi Company told AFP. The taxis sent to Perth are ex-demonstration models. In a publicly-funded package, the city’s cabbies will have their normal weekly licence fee waived for the first four years of running them — meaning they will recoup almost the full vehicle cost — if they take up the TX4. A white London taxi is seen driving along street in the British capital on May 24, 2013 (AFP Photo/O “The response has been phenomenal,” said Evan Simeon, who heads the company’s operations in Australia. “One Perth operator who purchased a fleet of 50 bright white, used TX4s has already had a stampede of drivers who want to be the first ones to buy a cab and partake in the trial. “What has been especially gratifying are the offers from expat London taxi drivers who not only want to buy one, but have also offered their services to train our Australian drivers on everything from the service to vehicle operation.” The manufacturer was rescued from administration earlier this year by Chinese automaker Zhejiang Geely Holding Group. The company has two factories: one at Coventry in central England for the domestic British market, and one in Shanghai for worldwide sales. The Perth cabs were shipped from the Chinese commercial hub.