Urquhart Stewart: Is the UK heading for a property crash?

If the Bank of England opts to raise interest rates, long-term tracker mortgages may be affected more than property investors realise, he said. "We as yet have not seen a real property crash in the UK, but if affordability continues to move away from buyers, then at some stage there will be a painful reaction," he said. Urquhart Stewart (pictured) pointed to the Bank of Ireland raising its mortgage rates from 2.99% to 4.99% last week, which will increase monthly repayments on £100,000 mortgages by as much as £160. "Many on fixed term mortgage arrangements [in the UK] will have alre...