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Bank Of England States That 2% Interest Rate Rise Would Put 480,000 Property Owners Into Mortgage Arrears

Bank Of England States That 2% Interest Rate Rise Would Put 480,000 Property Owners Into Mortgage Arrears

Bank Of England States That 2% Interest Rate Rise Would Put 480,000 Property Owners Into Mortgage Arrears

UK property buyers have an average mortgage debt of around £83,000 (GBP) plus many will have unsecured loans of up to £8,000 (GBP), however many are typically earning less than £43,000 (GBP) a year

The Bank of England has warned that up to half a million property owners could be at risk of falling into mortgage arrears once interest rates rise from their historic 0.5% low.

The BoE said the number of UK property owners expected to run into difficulties would increase by a third to approximately 480,000 in the event of a two-percentage-point increase in the cost of borrowing.

The BoE stressed the proportion of borrowers having trouble paying their mortgage loans should remain well below the record mortgage arrears levels of the early 1990’s, when the UK suffered its worst post-war property crash, provided that earnings incomes rose alongside interest rates.

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Property Investment Case Studies – Peter Singh

Real Property Investment Success By Real People

Real Property Investment Success By Real People

I have been fortunate enough to interview many successful and high profile property investors for MyPropertyPowerTeam.co.uk and there is nothing more motivating than speaking to people who have achieved property investment success against all the odds.

Last week I spoke with Multi-Let Success Strategy founder – Peter Singh, who some of you may remember from the Super Conference at Wembley stadium in March 2013.

Peter bared his soul and shared his emotional property investment journey stood on a stage in front of over 1000 super conference attendees, and I can honestly tell you that it was both moving and inspirational.

From regularly gambling away every penny he had, to being unwittingly involved in a multi-Million pound VAT fraud, for which he had to stand trial, to controlling 11 houses of multiple occupation (HMO’s) or multi let properties, generating £7,000+ (GBP) per month cashflow, in a short space of time.

Peter knew that property investment would provide him with enough income to clear his debts and set him up for life and set about arranging his first property investment deal while he was in court during the day and working night shifts in a local factory to make ends meet. Everyone he talked to about his property vision thought he was mad, including his own legal team, family and friends.

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There Will Never Be A Better Time To Invest In Property

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