Buying to let might seem like a good investment option with the current low house prices in th...
Every time we read about a surge in the economy house holders with a mortgage quite rightly shudder. The economy has rebounded in the last three months at the fastest pace for four years and so the threat is supposedly now persistently high inflation. And that means an increase in interest rates.
Do that and business and the housing market are going to have a rough ride. The British Chambers of Commerce chief economist says ‘ Businesses are still facing huge pressures and it is important for interest rates to remain as low as possible for as long as possible.’
Obtaining a mortgage is still very difficult with banks remaining so suspicious about lending money to for example first time buyers. Indeed mortgage approvals for house purchases has fallen to a four month low and is well below the 13 year average.
Add a hike in the interest rate on top of the woes of the last few years and this Country faces disaster.
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