Sunday, October 31, 2010
37% of mortgage holders would struggle to pay their mortgage if interest rates rose by just 2%
So why did they take on the mortgage then? The really shocking statistic in the article is that the FSA believes that 45% of all mortgages out there were granted with no proof of income. That's an awful lot of demand for houses that has gone away for good. Demand as in terms of wanting to pay and being able to pay.