An owner of a garage who has been accused of hatching a crash-for-cash sham informed the jury that he was not dishonest. He emphasised his point by stating that he has been in this business of motor repairing for almost 3 years and had hardly been in trouble with the police. Mohammed Rashid who owns Autotransform, informed the court that he would never support a dishonest insurance claim of any individual. He pleaded innocence and stated that he was never in company with anyone and never conspired to defraud Motor Insurance companies and tried to acquire property in dishonest terms. Sarah Lowther, Rashid’s partner also pleaded not guilty in a separate incident involving fraud against Equity Insurance Group. (more…)

UK’s largest Mortgage Lender, Halifax has recorded a fall of 15% in house prices over the past 12 months. This fall was the highest since 1983, the time from when Halifax began the series. This October, the average price of a house in the UK was £168,176 while it was £200,000 in October last year, a drop by almost 13.4%. Price of houses in the UK fell by almost 2.2% from September to October indicating a steady decline of rates. This condition is not going to improve too soon.

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