Kirstie Allsopp blames Putin, Liz Truss and Brexit for mortgage crisis04/28/2023
Kirstie Allsopp gave her opinion on who’s to blame for the mortgage struggles in the UK on Friday.
The outspoken host, 51, named Liz Truss as being responsible for the mortgage crisis, due to the former Prime Minister’s failed mini-budget, along with Vladimir Putin and Brexit, in a bold statement.
Kirstie tweeted: “In case there is anyone out there who doesn’t think we were all screwed by Liz Truss, yes, Putin is part of it, as is Brexit, but Truss put a bloody big cherry on the cake.”
The Location, Location, Location presenter reposted an article on homebuyers struggling in mortgage hell as she tweeted her controversial take.
While some Twitter users sided with Kirstie’s opinion, others challenged her comments.
Willdennis1940 wrote: “This has been on the cards for the last 10 years. How long did you think rates could stay so low? Speak to a good IFA/mortgage advisor and they knew this was coming”.
While somewhat agreeing, Kirstie replied that the rise in mortgage rates “could have come far more slowly”.
It was reported in January that mortgage approvals were at their lowest since 2009 amid economic uncertainty in the current cost-of-living crisis, though rates have since improved.
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Open_rocking argued: “Liz Truss was in post for less than 2mths and implemented nothing. It’s preposterous to suggest this. This has all been caused by the lockdowns and the extreme money printing to pay for them.”(sic)
Kirstie answered: “There is a strong element of lockdown, that I will accept, Truss was pushing at an almost open door, but she threw it wide open.”
Pen commented: “I think lockdowns/furlough played a huge part as well. But it appears Truss was the final nail in the coffin which freaked everyone out & saw the rates head upwards”.
Kirstie agreed, adding: “The financial damage done by lockdowns is not talked about enough, they are treated as if they were all unavoidable, but the length & number of them was not unavoidable.”
The Bank of England’s Q1 Credit Conditions survey suggests that mortgage loans will continue to decline in the second quarter of this year.
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