The risks faced by the UK’s mortgage lenders have been highlighted by the first Prudential Risk Outlook (PRO) to be published by the Financial Services Authority (FSA). According to the FSA, the lower arrears and repossessions seen during the current downturn, compared with the previous recession, are down to falling mortgage interest rates and lower [...]
mortgage interest rates
CBI: higher mortgage payments in 2011
The Confederation of British Industry (CBI) is predicting that the base rate will begin “rising gently” in the Spring, to hit 2.75% by the end of 2012.
Higher mortgage payments are therefore named as a factor in keeping household spending flat next year, showing a rise of only 0.9% in 2011, and 1.2% in 2012.
The industry [...]
