One of the things that makes property investors anxious is the interest rates. Yesterday Bank of England left interest rates unchanged for the 15th month in a row at 0.5%. Every investor and home owner has benefitted from lower mortgage payments. But how long this party can last? Some economists and institutions like OECD [...]
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BBC has been conducting a survey over the past 3 months. After looking at more than 7,000 court hearings, they found that lenders have been acting recklessly and disproportionately to give money to people who can not afford it. More than 70% of all repossessions are from people who could not afford the mortgage [...] In the end, UK’s fifth largest mortgage lender, Newcastle-based Northern Rock, had to go cap in hand to the Bank of England (or BoE) for some extra lending, after spending best part of last week doing some explaining to BOE and the Chancellor of the Exchequer. Here is a bank with a solid mortgage [...] |
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