David Miles Guide, Meaning , Facts, Information and Description

Professor David Miles of Imperial College London is a British economist who produced a report in 2003 for the Chancellor to examine why long-term fixed rate mortgages are so unpopular.

The report states:

A great many borrowers focus on the initial cost of debt and do not seem to consider carefully how those payments might change relative to their incomes .

External links:

• Miles Report: Part 1
• Miles Report: Part 2
• Miles Report: Part 3
• BBC News of 10 Dec 2003 UK home supply way below demand
• BBC News of 9 Dec 2003 Call for more long-term mortgages

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