The UK economy has enjoyed an unprecedented period of positive economic growth since the early 1990s. The absence of recession for more than a decade has been accompanied by a sustained decline in the level of mortgage arrears, as reported by major lenders. This paper seeks to examine the...

Between the first quarters of 1970 and 1980 the average price of new houses in the United Kingdom increased five-fold. Over the same period building societies grew to become major financial institutions, attracting almost 50 per cent of the personal sector's holdings of liquid assets, and...