BLOOMBERG: Risky Mortgages on Rise in Areas Most Vulnerable to Brexit

Press/Media: Expert comment

Release date: 15/8/2018

Description

“People will prefer to use the income and savings they have to pay the mortgage, so what’s likely to happen is they’ll cut from other expenses, starting with traveling,” said Ismail Erturk, a senior lecturer on banking at Manchester Business School. “GDP will be impacted in the first instance, rather than the housing market.”

Media coverage

TitleRisky Mortgages on Rise in Areas Most Vulnerable to Brexit
Media name/outletBloomberg
Media typeWeb
CountryUnited Kingdom
Date15/08/18
Description“People will prefer to use the income and savings they have to pay the mortgage, so what’s likely to happen is they’ll cut from other expenses, starting with traveling,” said Ismail Erturk, a senior lecturer on banking at Manchester Business School. “GDP will be impacted in the first instance, rather than the housing market.”
URLhttps://www.bloomberg.com/news/articles/2018-08-15/risky-mortgages-on-the-rise-in-areas-most-vulnerable-to-brexit?utm_source=google&utm_medium=bd&cmpId=google
PersonsIsmail Erturk