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Repossession Wont Increase With Interest Rates

Home Repossession Won't Increase With Interest Rates

If interest rates were to rise then the number of home repossessions would not increase as well according to a Bank Of England official.

Many analysts including Richard Banks, the chief executive of UKAR had stated their believe that interest rates rising could cause a "tsunami" of house repossessions.

"You can see if you don't do something about it, you can see a tsunami," he said. "If you don't get into the hills you could get drowned by this. If you don't manage this properly it could get very messy."


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