It would appear that "More than a million homeowners face a jump in mortgage payments of up to 60 per cent when their cheap fixed-rate deals end. Analysts fear the impact will result in a surge in repossessions. The Council of Mortgage Lenders is so concerned that it has taken the extraordinary step of suggesting that some homeowners should sell their property rather than risk losing it."
House prices are on their way down and not by 2%-5%, but 30%+; trust me...
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