"The Bank of England will raise the cost of borrowing by another quarter point next week.", are the words emanating from many financial analysts today although there are more than a few who are raising fears of an even greater rise.
A story today on The Telegraph website states that The Nationwide reports a 0.9% increase in average house prices for April 07 which means that annual house price inflation now stands at 10.2%. Whilst we have seen yet another price increase, the rate of increase has fallen suggesting that the slowdown has already begun.
We reported yesterday a similar theme from analysts and another rise in interest rates next week could go a long way to cool the house price boom we have seen in recent times. What will buy to let investors do now? Will there be mass mortgage panic - fixed rate or bust? Will repossessions skyrocket? We will try to bring you up to speed in our daily blog. Keep watching!
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Can a policeman say that...?
"So, you don't know how fast you were going. I guess that means I can write anything I want on the ticket, right?"
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