Rat and Mouse
Thu
10
Nov
The Eurozone crisis and your house

Since September 2009, the three-month sterling Libor has almost doubled, and it’s been rising steadily since the beginning of September 2011, from 0.90% to 0.99%, lifting the all-important gap between inter-bank lending and the base rate to 49 basis points – 10 to 20 is considered normal. As a result, tracker rates from all the major lenders began climbing in October by significant amounts: Woolwich has pushed through increases of as much as 1.5%. According to many analysts, banks’ purse strings are likely to tighten further in the coming weeks, as a 2008-style credit crunch seems less and less fanciful.

Our publisher looks at how the Eurozone debt crisis is likely to affect the UK property market, in his guest column for Citywire.

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