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Mortgage defaults continue to fall in UK

The Bank of England has today issued a report confirming that mortgage defaults and loan defaults from the business arena are continuing to fall, following the trend in the mortgage market which began last year. The latest report covers the period from April 2010 to June 2010 and has proven to be very encouraging in relation to the UK economic situation. However, what can we expect in the future?

While the trend in mortgage defaults has been heading downwards for some time, experts believe it will remain relatively flat in the latter part of 2010. There is even the potential for defaults to increase in the short to medium term if, as many expect, the UK economic revival begins to slow after recent budget changes by the government. Whether this is the case or not it would appear that liquidity is slowly but surely returning to the UK mortgage market but we still need to be very wary of any emerging issues in the short to medium term.

There are a number of factors affecting the UK economy that have been near impossible to predict over this very difficult 2 to 3 year period. When we will we return to a more traditional economic environment?

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