Wednesday, November 3, 2010
This site needs to cover the HPC once more
Millions caught in cheap home loans trap: Financial experts' warning over families under threat from interest rate rises Read more: http://www.dailymail.co.uk/news/articl3m households caught cheap home loans trap.
Up to three million households are on a financial precipice â€“ and in danger of falling over it if interest rates rise. Leading economist Danny Gabay warned that a full-scale recovery will not take place until banks tackle the problem of the families who took out loans far beyond their means.The former Bank of England expertâ€™s warning about the â€˜zombie householdsâ€™ which could be tipped into financial oblivion when interest rates rise were echoed by a series of finance experts last night.