Thursday, May 07, 2009
'The Perfect Storm'
BBC News: Changes for borrowers and savers?
Last couple of paragraphs are interesting. We know its going to happen, and it's starting to creep into the media!
Andrew Montlake, director of independent mortgage broker Coreco, predicted a "perfect storm" of future interest rate increases and falling house prices.
"There is no doubt that the next move in the Bank rate will be upwards and, when it comes, it could be a dramatic one," he said.
"With house prices still likely to be low when rates do start to rise, many homeowners will be at the mercy of higher interest rates without being able to remortgage because of insufficient, or negative, equity."
Posted by pooodle2 @ 04:09 PM (599 views) Add Comment
2 Comments
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1. mander said...
I am sorry but is FSA still working or are they waiting for the bubble to restart? Is UK going to beat the world record at the most expensive houses and pricing out the working people of the market for years? I never thought that speculators have more influence than God himself !
2. tyrellcorporation said...
The boe won't put up interest rates all the time house prices are falling. Their interest rate policy is always aimed at protecting house prices and always has been. Expect no change.