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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