Economist gives mortgage warning
14/04/2006 - 18:31:10One of the country's top economists is warning house buyers to think twice before rushing in to mortgage deals.
Jim Power from Friends First says rising interest rates and increasing house prices could put first-time buyers in serious economic trouble.
He says people taking out 100% mortgages are the most vulnerable.
Mr Power said: "There is evidence out there that people who have come on to the housing ladder in recent times are hurting financially and if anything were to go wrong or the cost of living were to continue to increase at current levels then it could create serious difficulties for certain people."
