Will demand for PRS be driven by warning from Bank of England?
The Governor of the Bank of England, Mark Carney, has cautioned those considering buying a property. He advised those considering taking out a mortgage to consider the long term affordability of the commitment, warning that at some stage during its lifetime conditions will be difficult. Although the Bank has recently released an extra £150 billion to ensure credit liquidity doesn’t slow too significantly, difficulties that may be experienced during Brexit negotiations may cause lending to become more restrictive. This would result in fewer buyers and would place a greater emphasis on the UK’s private rented sector (PRS).
Full story available from Select Property Group: http://www.selectproperty.com/2016/07/will-boes-warning-to-home-buyers-drive-demand-for-prs/