Rate rise warning to mortgage borrowers | This is Money
Homeowners who have been tempted by low interest rates into taking out large loans could find themselves in trouble when rates go up, the City watchdog has warned.
The Financial Services Authority today said that property buyers are taking on more debt now than at any time since the financial crisis.
Nearly a third of mortgages handed out in the first nine months of 2010 went to people borrowing more than 3.5 times their income.
In its Prudential Risk Outlook, the regulator said low interest rates have made high loan-to-income mortgages appear affordable.
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