One in five UK consumers do not associate buying a property with taking a financial risk, despite concerns interest rates are likely to increase later this year, says the Council of Mortgage Lenders.
According to the CML lender's market briefing for March, a whopping 18% of adults in Britain believe there is NO risk whatsoever attached to owning a home. Only 4% say they are concerned the house might lose value over time, with just 10% saying they are losing sleep over increasing interest rates. The result is worrying, the CML says, because while the Bank of England decided to leave rates unchanged at 4% today, CML members warn they will almost certainly rise later this year. Current CML forecasts suggest the Monetary Policy Committee (MPC) will wait until the third quarter of t...
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