Bank expected to raise UK rates
The Bank of England is expected to raise UK interest rates from 5.5% to 5.75% shortly, as it resumes its efforts to reduce inflation.
Most economists predict a rise after Bank governor Mervyn King said recently that inflation remained a concern.
"We're seeing more and more people coming in for help with mortgage or secured loan arrears," said Sue Edwards from Citizens Advice.
"People are really stretching themselves to the limit to buy a house and take on a mortgage, so a small increase in interest rates could just tip them over the edge," she told the BBC.
Mixed housing signals
While the Halifax revealed on Wednesday that UK house prices rose 0.4% in June, Land Registry figures showed that the price of flats, as opposed to houses, in most parts of the England and Wales were now falling slightly.
Philip Shaw, chief economist at Investec, said that an increase to 5.75% at this month's meeting was definitely the most likely outcome.
Boomed!
The Bank of England is expected to raise UK interest rates from 5.5% to 5.75% shortly, as it resumes its efforts to reduce inflation.
Most economists predict a rise after Bank governor Mervyn King said recently that inflation remained a concern.
"We're seeing more and more people coming in for help with mortgage or secured loan arrears," said Sue Edwards from Citizens Advice.
"People are really stretching themselves to the limit to buy a house and take on a mortgage, so a small increase in interest rates could just tip them over the edge," she told the BBC.
Mixed housing signals
While the Halifax revealed on Wednesday that UK house prices rose 0.4% in June, Land Registry figures showed that the price of flats, as opposed to houses, in most parts of the England and Wales were now falling slightly.
Philip Shaw, chief economist at Investec, said that an increase to 5.75% at this month's meeting was definitely the most likely outcome.
Boomed!
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