Repossessions Could Soar

Mon, 23 Aug 2010

Many millions of homeowners could face huge increases on as interest rates rocket to eight per cent within the next two years.

Such are the latet top economist warnings.

Those who do not have a fixed-rate deal could see their monthly repayments rise by hundreds of pounds, leaving lots of families facing the possibility of repossession .

Due to the increase in cost of company premises, small businesses could be affected adversely.

This clear warning has been sent by the influential Policy Exchange think-tank which has forecast that interest rates may return to levels not witnessed since the 1990s in order to keep inflation down.

In addition, rates as high as eight per cent could open up the possibility of a return to "boom and bust".

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