LONDON, Oct 11 (Reuters) – British home costs may fall by 10%, an government at Lloyds Banking Group (LLOY.L) informed an trade occasion on Tuesday, because the economic system adjusts to increased prices of debt and dwelling bills.
Roselyne Renel, group chief credit score officer at Lloyds – Britain’s greatest mortgage lender – mentioned the financial institution anticipated costs to appropriate by round 10% however didn’t see a collapse.
“I believe we have a look at perhaps a ten% correction,” Renel informed a Moody’s banking convention in London.
Reporting by Lawrence White, Writing by Iain Withers, Modifying by Sinead Cruise
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