banks are in a much better position than 12 years ago

Tombs, chief UK economist at Pantheon Macroeconomics, said: big month to month drop in Nationwide house price index in May the largest since February 2009 surely is just the start of a protracted decline over the remainder of this year.banks are in a much better position than 12 years ago to lend, given their high capital ratios and their ability to access cheap funds from the Bank of England latest Term Funding Scheme. Tombs said: few people likely will be forced to sell their homes, given that mortgage payment holidays are easily available and home ownership has declined.the huge size of the blow from Covid 19 to households incomes and the deterioration in consumers confidence suggests that house prices must drop. TRACKING START GA >.

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