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Debate House Prices
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Is there an exit strategy?
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grizzly1911 wrote: »Is there a reason there can't be one if affordability isn't an issue?
Well there are mortgages available that are linked to other indexes other than the BoE rate, such as individual Bank Base Rates (BBR). I believe that mortgages available at the moment have more of a link to Libor rates rather than BoE?
Mortgages will always be connected with how much the bank can borrow its money for, plus how much margin they think they can get away with adding on top.
Unless you feel that legislation should come in to force banks from being competitive and disconnect what they offer to borrowers from what it costs the bank to borrow, then I don't see how you can raise rates independent of the BoE or Libor rates?
Or even why you'd want this?0
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