UK Homeowners And Buyers Are To Face More Headaches

The UK’s homeowners and buyers are said to be facing yet more headaches, the former head of America’s central bank has warned.

The ex-Chairman of the Federal Reserve, Alan Greenspan has said that there are going to be big problems as rising interest rates bring house price growth to a shuddering halt. He said that the recent increases in house prices and particularly those in London and the South East are unsustainable.

Alan has said that banks are already being forced to write off billions of pounds of debt.

Alan has said that he also believes that Britain is more vulnerable to the effects of the credit crunch than the US he said that “Britain is more exposed than we are - in the sense that you have a good deal more adjustable-rate mortgages,”.

What do you make of all this are we going to be facing more headaches?

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