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It is different this time

Mortgage Lenders Call For Interest Rate Freeze

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http://business.timesonline.co.uk/tol/busi...icle2102685.ece

The CML urges the Bank of England to wait before acting again on rates despite record £34.2bn June lending figureSteve Hawkes

One of Britain’s biggest financial trade bodies warned the Bank of England today not to raise interest rates to 6 per cent despite revealing that mortgage lending soared to a record £34.2 billion in June. The body, which represents banks and building societies across the UK, added that June’s record gross lending figure may have been distorted by the sheer number of homebuyers rushing to complete before rates went up, as widely predicted beforehand, in July.

Something must be wrong with housing market as VI are throwing their toy out of the pram :lol: . I wonder where they were when HPI was about 25% as I can't remember their warning to the bank to stop the madness.

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