The FSA admitted it has been concerned for some time that house prices in London and the South ...
The FSA admitted it has been concerned for some time that house prices in London and the South East are as high in relation to the rest of the country as they have ever been. In cautionary mood, Howard Davies, chairman of the FSA has noted that the multiples of salary at which many people have been prepared to borrow continues to rise. Davies warned: "Of course, with interest rates where they are the borrowing affordability index is still low. But that is no comfort to someone who loses his job and finds he has negative equity in a house he can no longer finance." Davies made t...
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