Friday 18 March 2011

Mortgage rise fear as householders taking out mega loans hits pre-recession levels | Mail Online

Mortgage rise fear as householders taking out mega loans hits pre-recession levels | Mail Online

Home owners are at risk of being squeezed by interest rate rises after increasing their borrowings to boom-era levels, the City watchdog has warned.
According to the Financial Services Authority, the number of households borrowing 3.5 times their salary or more has soared to levels last seen at the height of the 2007 housing bubble.
Tempted by historic low interest rates and modest monthly repayments, some borrowers have raised more than six times their income the regulator reported.

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