There is an excellent short article by Martin Lewis at Money Saving Expert entitled A mortgage warning, take a look at the UK Interest rates’ history since 1694
The chart on the left shows what has been done to interest rates since the financial crisis in order to help out the banks.
Some time though, interests rates will rise, and they will rise a lot. It may be that unemployment falls and the BoE gradually eases them up, or there is a crisis of the kind which has hit so many other countries over the last few years which forces them up overnight.
What is going to happen to the housing market if interests rates suddenly treble, or quadruple?
Excellent article by Merryn Somerset Webb at Moneyweek The government is inflating a disastrous property bubble.