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Housing Development and Housing Finance in Britain – January 2008
 An analysis of housing development and housing finance in Britain, written specifically for an international audience, has been published by the International Real Estate Network. The report has been written by Mark Boleat, former Director General of the Building Societies Association and the Council of Mortgage Lenders and author of a number of publications on housing finance.
The report has chapters covering planning, building standards and controls, house building, land tenure and registration, the house purchase process, valuations and surveys, regulation of mortgage lending, mortgage products and lending, mortgage lenders and funding, prudential supervision of mortgage lending and relevance of the British experience to emerging markets.
The detailed chapter on mortgage lenders and funding describes how mortgage loans in Britain are funded by a combination of retail deposits, residential mortgage backed securities, covered bonds and other wholesale sources. The implications of the credit crunch are discussed, and there is detailed annex on the Northern Rock. The chapter on mortgage products describes the concentration on variable rate and short term fixed rate loans, a very different position from that in most other countries.
Finally, the report suggests that the British experience offers some useful lessons for emerging markets in a number of areas.
Sponsors:
The Lead Sponsor was the Worshipful Company of Chartered Surveyors.
The Main Sponsors were the College of Estate Management and Infoterra Limited (an EADS astrium company).
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