With many families sweating for fear of further impending interest rate rises, there are signs in the housing market that those movements may have peaked. Sam Barrett reports
The fortunes of the property market are extremely important for the protection market. With as much as 70% of protection sales linked to mortgages, a downturn in the market will have serious ramifications for the protection industry. Certainly, there are signs that things could be about to change for the worse. The Bank of England Monetary Policy Committee has taken steps to take some of the heat out of the market. In the last year, there were five interest rate rises, taking the base rate from 4.50% to 5.75% at the beginning of July. Stephen Smith, director of housing at Legal & Genera...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
