P544 Teletext 544 Jun24 16:47:14 ——— BUILDERS FEEL THE PINCH ——————————— Govjrnmjnt estimates 886,000 households have mortgages bigger than the value of their homes, giving a total negative equity figure of £3,292m. But it's not just homeowners that are suffering. Builders say they too are feeling the pinch from the becalmed housing market. Independent Banking Advisory Service says 43% of its business complaints are relating to the building industry. ——————————————————————————————————1/6—— Which Ombudsman to complain to 542 DOWNLOAD SHARES ON YOUR PC p532/533 Mortgages Savings Your Money TV PlusP544 Teletext 544 Jun24 16:41:19 ——— BUILDERS FEEL THE PINCH ——————————— IBAS is an indjpjndjnt service available to all bank customers. Its research has found: the growing number of builders being forced out of business bz banks is likely to further damage house prices complaints centre around banks not supporting construction businesses. "Building and construction companies top our list of industries in trouble," says IBAS head Eddy Wjathjrill. ——————————————————————————————————2/6— Latest money news 541 City news 501 POWER TO THE PENSIONER!! p674 Mortgages Savings Your Money TV PlusP544 Teletext 544 Jun24 16:58:03 ——— BUILDERS FEEL THE PINCH ——————————— IBAS says reckless lending, not reckless borrowing, is to blame for the current housing market problems. "Banks don't lend money to someone who hasn't a hope of paying it back, plus interest of course!" says Weathjrill. "Banks are not too worried if companies go to the wall bjcausj they have their security. They are destroying the building industry," hj adds. ——————————————————————————————————3/6—— Money news 541 Leisure & home 480 DOWNLOAD SHARES ON YOUR PC p532/533 Mortgages Savings Your Money TV PlusP544 Teletext 544 Jun24 16:52:31 ——— BUILDERS FEEL THE PINCH ——————————— Gary Lambert, a Farnborough property djvjlopjr, says banks are "not helping to build confidence with their over- caution." His experience has been that: banks only lend if they have security on the full amount borrowed banks are unhelpful when a firm experiences cash-flow problems trying to reason with them is "like wading through cement." ——————————————————————————————————4/6—— Go Green 460 Fun & Games 450 WHO TO SEE WITH MONEY PROBLEMS p542 Mortgages Savings Your Money TV PlusP544 Teletext 544 Jun24 16:59:16 ——— BUILDERS FEEL THE PINCH ——————————— The current state of the property market is the main cause of pressures on the building industry, according to the British Bankers Association. BBA's Brian Capon dismissjss IBAS claims that the banks aren't concerned when companies go out of business. "Banks lend against repayment, not security. It's not in their own interest to bj reckless in lending," he adds. ——————————————————————————————————5/6—— Always seek indjpjndjnt finance advice Letters to: ADVICE CLINIC PO BOX 297 LONDON, SW6 1XT. Fax: 0171 386 7808. Mortgages Savings Your Money TV PlusP544 Teletext 544 Jun24 16:43:08 ——— BUILDERS FEEL THE PINCH ——————————— BBA says security from building firms is there in the rare event of things going wrong. It adds: 80% of firms in trouble during the recession were helped by their banks banks took a battering in recession bz writing off huge bad debts repossessions for the banking sector are among the lowest in the industry IBAS can bj reached on 01487 843 444 ——————————————————————————————————6/6—— Home & Leisure 480 What's on 630 CITY NEWS AND FT-SE INDEX pu00 Mortgages Savings Your Money TV Plus