David Miles
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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 (http://news8.thdo.bbc.co.uk/1/shared/spl/hi/uk/03/budget/documents/pdf/miles_review_sec12_302.pdf)
- Miles Report: Part 2 (http://news8.thdo.bbc.co.uk/1/shared/spl/hi/uk/03/budget/documents/pdf/miles_review_sec345_300.pdf)
- Miles Report: Part 3 (http://news8.thdo.bbc.co.uk/1/shared/spl/hi/uk/03/budget/documents/pdf/miles_review_sec67ar_430.pdf)
- UK home supply way below demand (http://news.bbc.co.uk/1/hi/business/3305457.stm) - BBC News, December 10, 2003
- Call for more long-term mortgages (http://news.bbc.co.uk/1/hi/business/3302029.stm) BBC News, December 9, 2003