prices shoot off again
Experts have revealed that house prices
are rising at a steady rate.
All three parties agreed, the lenders,
economists and housing industry firm without a big economic decline
stated that property value would keep rising more each year.
This is because it has done since the last years and every year
house prices keep on rising .
Paragon Mortgages chief executive,
Nigel Terrington stated clearly that, "A serious correction
in the housing market traditionally occurs as a result of a sharp
economic downturn, which looks extremely unlikely. It would take
a reversal in recent increases of income multiples or a considerable
tightening in lending criteria by banks, for there to be a serious
downturn in prices,"
House prices have increased a lot over
the last decade, the experts summed up that having a property
on a affordable rate would be down to offering mortgages with
greater income multiples.
Mr Miles, of Morgan Stanley spoke further:
"Fixed-rate deals are often more suitable for those benefiting
from higher income multiples, as they are able to eliminate possibly
the biggest risk to their debt – rising rates."
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