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UK House Prices Set to Tumble
abailart
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11-17-2007 2:56 PM
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uk house prices
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finance
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economics
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/61e50f0e-83b4-444d-a138-373e88a4b6ef/2626F980-885A-4ACE-8A36-D33CB7B02527/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2886536.ece" href="http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2886536.ece" style="font-size: 11px;">business.timesonline.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2886536.ece"> The most comprehensive picture of the gloom awaiting some homeowners next year is revealed today, as experts say the value of millions of homes will fall.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2886536.ece"> The Nationwide Building Society forecast yesterday that house-price inflation would tumble from near-double figures to zero by the end of next year, meaning that prices would fall in real terms across the country.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2886536.ece"> The average mortgage rate rose above 6 per cent last month for the first time since 2001, even as expectations of a cut from the Bank grew. Several big lenders said that they could not guarantee that they would cut their standard variable rates if the base rate fell.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2886536.ece"> The 1.7 million homeowners who will come to the end of fixed-rate deals next year are also likely to have to find extra cash. The number of those who have stretched themselves to the hilt to get on to the housing ladder has grown dramatically. Almost 5 per cent of mortgage borrowers are paying 50 per cent or more of their gross salary on mortgages,</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/2626F980-885A-4ACE-8A36-D33CB7B02527/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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