Merryn Somerset Webb spoke to Andrew Neil for the BBC about current mortgage and interest rates. Discussing the 2.5% mortgages available on a 5 year fixed term, she suggested that these are not sustainable long-term and that rates will go up in the future. She also said that although 7% would be a ‘normal’ mortgage at the moment, people do realise that current mortgage and interest rate are not really normal.
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The 8th Arabian Business Forum was held on May 21st in Dubai, where a number of speakers were chosen to discuss some of the major issues currently facing the Gulf economies. The event was hosted by the renowned British broadcaster, political commentator and ITP Chairman, Andrew Neil.
Former Chief Economist for the Dubai International Financial Centre, Nasser Saidi is an expert on Middle Eastern finance and economics; Arabian Business magazine said “there aren’t many more prominent experts than Dr Nasser Saidi.”
In his keynote speech Nasser suggested that for 2013 the non-oil sector will aid growth in the economy as oil prices plateau and even drop. He also discussed unemployment and its effects as well as the loans that the government are encouraging banks to give to new companies.
Click here to read more about the Forum