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With the UK’s credit rating outlook recently being changed to negative by Moody’s rating agency the current possibility of the UK’s coveted triple AAA credit rating being downgraded is ominously looming.
A downgrade is very similar to a person receiving a bad credit score from Experian. It means the individual wanting to borrow money is damaged goods in the eyes of the lenders, meaning that lenders will increase the borrowers interest rates.
So if the UK was to downgrade we would be seen as damaged goods.
So we at Landlord Referencing Services have been wondering what the ramifications would be for the UK property market if this were to happen.
With the current housing crisis & recession this couldn’t have come at a worse time; when people are already struggling to survive.
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