Ppi, Bankers & House Prices: The Mortgage Solutions News Quiz 19 July 2013

Explanation
25% of first-time buyers chose the first mortgage they came across. This suggests that a significant portion of first-time buyers do not thoroughly research or consider multiple mortgage options before making a decision. This could be due to a lack of knowledge or time constraints. It is important for first-time buyers to carefully evaluate different mortgage options to ensure they are getting the best deal and terms for their financial situation.

Explanation
MPs warned about the trend of studentification in the private rental sector this week. Studentification refers to the process of an area becoming dominated by student accommodation and related services, often leading to a decrease in affordable housing options for local residents. This trend can have negative effects on the community, such as increased noise levels, higher rental prices, and a lack of diversity in the neighborhood. MPs likely raised concerns about the impact of studentification on the availability and affordability of housing for non-student residents.

Explanation
The correct answer is 83%. This means that out of all the complaints received by the Financial Ombudsman, 83% of them were related to PPI claims. This indicates that PPI claims were the most common type of complaint made to the Financial Ombudsman, making up a significant majority of the total complaints.

Explanation
The Council of Mortgage Lenders called for tax breaks for landlords in order to encourage investment in the private rental sector. This means that they believe providing tax incentives to landlords will incentivize them to invest in rental properties, which in turn will increase the supply of rental housing and potentially make it more affordable for tenants. Tax breaks can include deductions on mortgage interest, repairs and maintenance expenses, and other expenses related to owning and renting out properties.

Explanation
The correct answer is 0.5%. This means that Savills originally estimated that house prices would increase by 0.5%. However, they revised their forecast to 3.5% this week, indicating that they now expect a higher increase in house prices.

Explanation
Persimmon Homes launched a scheme called "Help You Buy" to rival Help to Buy in Wales. This scheme aims to provide assistance and support to individuals looking to purchase a home, similar to the Help to Buy program. The name "Help You Buy" suggests that the scheme is focused on helping individuals with their home buying process, potentially offering financial aid or guidance.

Explanation
Paul Fisher described the process of making monetary policy as political with a small p. This suggests that he views the decision-making process as involving political considerations, but not in the sense of being aligned with a specific political party or ideology. Instead, it implies that the process is influenced by various factors, such as public opinion, economic conditions, and international relations, which can shape the policy outcomes. By using "small p," Fisher likely emphasizes that the decision-making is not overtly partisan or driven solely by political agendas.

Explanation
First-time buyers paid 4.1% more for houses in May compared to the previous year. This implies that the average house prices increased by 4.1% for first-time buyers during that period.

Explanation
The answer is 170. The question asks how many German counterparts received a sum of over a million euros in 2011. The information given in the question only provides the number of British bankers who earned over a million euros, which is 2,000. Therefore, there is no direct information given about the number of German counterparts. Hence, it can be inferred that the correct answer is 170 based on the given options.

Explanation
MP Sarah Teather compared renting a property to buying fruit in Sainsbury's. This comparison suggests that renting a property is a decision that requires careful consideration and attention, just like choosing and buying fruit in a supermarket. It implies that renting a property should involve evaluating various options, comparing prices and quality, and making a decision that best suits one's needs and preferences.