Britain’s Mortgage Crisis!
Patrick Boyle On Finance
00:00
Introduction
Patrick Boyle: The U.K. inflation rate remained stuck at 8.7% for May, worse than the 8.4% that was expected. Inflation has been more persistent in the UK than in many peer nations such as France and Germany. He says Britain's mortgage industry is dominated by building societies whose funding must be at least 50%. Deposits are a floating rate and can be withdrawn at any point in time.
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