The outlook for the U.K. housing market is “highly uncertain” after the vote to leave the European Union caused transactions to slow, the Bank of England said.
Record-low benchmark rates have sent property prices surging across the U.K. as homeowners borrow more to buy properties or refinance their loans. Mortgage lending to U.K. households rose 3.2 percent in the 12 months to September, the highest level since 2008, the central bank said in a financial stability report Wednesday.
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