Carrying over negative equity

Darling proffers regulatory reform as Nationwide opens the door to 125 percent mortgages

Nationwide, Britain's biggest building society, have bucked the trend by offering 125 percent mortgages. Why? Because they say it'll offer those seemingly stuck a chance to “carry over” their negative equity. This seemingly consumer-friendly move is something new in this sticking era of recession.

In equally positive news, the IMF has predicted that the UK's economy will be on the up (well, at least more than on the down) in 2010. With its prognosis of a 0.2 percent growth, the media panic may well have to be re-weighted, at least on the furore front.

This comes as Alistair Darling announced a series of regulatory changes to the financial system. Consumers will be better protected and banks will be more heavily regulated under the reforms proposed by the Chancellor, incorporating greater competition, executive pay and the birth of a new Council for Financial Stability. Criticisms were quick to follow from the Tories and the Liberal Democrats, who claimed that the proposals displayed a degree of passiveness and confusion.

The Court of Appeal this week upheld a pre-nuptial agreement for the first time, protecting German heiress' Katrin Radmacher's fortune. When she married French banker Nicolas Granatino in 1998, the pair agreed to waive their rights to claim against each other, before the High Court last year awarded him £5.56m. There is no news as to whether this decision will make the House of Lords, but for now, it seems the landmark of landmark cases concerning financial settlements. “Signing a pre-nup is a free choice,” said Radmacher. And it turns out that it may well be.

Alas, for those less fortuitous at the moment, an exciting new position has opened. Wookey Hole in Somerset is advertising for a witch, with a salary of £50,000 per annum. The successful applicant must “live in the cave, be a witch, and do the things witches do”. Sound familiar?

For the less witchy, more geeky amongst you, you'll doubtless have heard of Google's plans to buy the internet. And the world. How, this time? Well, as well as Gmail and Google Docs graduating from their BETA status, it announced plans to develop Google ChromeOS – its own operating system. Much like their Google Chrome browser, the system will be secure, fast, lightweight and – wait for it – free. Microsoft may yet be quaking in their boots.