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Mortgage warning: two-year deals 'dangerous' as house prices weaken and rates rise

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Well, the tide has certainly turned. 

Also, mortgage IRs are not only subject to BoE IR rise, but the lenders own IR rise and or other contractual conditions (margin call, making sure of suitable repayment vehicles are in place etc). Plus you as the mortgage holder has to keep the house in mortgable condition, and keep up repayments for insurances, building and contents as well as personal insurances as set out in the contract. 

Failure to do so could be seen as breach of contract.

I truely think that this crash will see lenders going through contracts with a fine toothed comb to get the more toxic loans off their books and onto someone elses before it all goes boom

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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