Want a mortgage in Britain? If you apply for one now you are likely to be asked some new bizarre questions! This is because the UK property market is overheating. There is a ‘super bubble’ in the London area.
The tsunami like effect is rippling outwards, right across the South East of Britain. Its effect is pushing property prices up. London has seen prices increase in the last year by approximately 17%. Year-on-year prices rose across the UK by an average of 8%. Prices are expected to increase another 10%.
Category: Economic / House Prices / Mortgages