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North-South Divide In Mortgage Risk, Says Academic

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http://www.bbc.co.uk/news/business-26936175

A quarter of all the outstanding mortgage debt in Britain is owed on London properties, but these owners are less vulnerable to interest rate rises.

Home loans totalling £897bn were still owing at the end of September, analysis of residential mortgage debt in England, Wales and Scotland shows.

Some 25% of this was in London, and 44% in London and south-east England, the Council of Mortgage Lenders (CML) said.

But an academic study said homeowners in northern England were more at risk.

This was because these householders were twice as likely to hold variable-rate mortgages - that would be expected to rise if the Bank rate increased - as those in southern England.

People in the South were more likely to have longer, fixed rate mortgage deals that tied them into a certain interest rate, according to Alla Koblyakova, of the School of Architecture, Design and the Built Environment at Nottingham Trent University.

However if the unthinkable happens and London suddenly loses it's allure to foreigners what then?

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according to Alla Koblyakova, of the School of Architecture, Design and the Built Environment at Nottingham Trent University.

At least spending time helping to analyse mortgages and mortgage distribution etc might help to keep them away from designing the awful boxes called houses that are so prevalent these days.

Edited by billybong

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