Crazy mortgages - You read it here first !

I note that Gordon brown has spoen out against 100% mortgages whilst Tories too are jumping on the bandwagon to attack crazy loans that their party had no problem in supporting a few months ago.

I'd just like to point out that I made the point HERE back in November 2006 !

Step aside Vince Cable.


Oldrightie said...

Hang on, Buddy, no one saw this coming. The Great Consumer of Snot told us!


Letters From A Tory said...

Maybe you should have a dance off with Vince? Bet he could tango you out of the economic spotlight.

Bill Quango MP said...

Erm.. Gord has said no to 100%.. but desperately wants 90-95% mortgages.
Northern cock to lend 90% mortgages in a falling market!
So if a 10% fall occurs over 6 months {highly likely} and then the buyer is out of a job, negative equity is in place..bank loses, Owner loses, taxpayer loses under the loans scheme even if it isn't a Northern rock special deal...Who can possibly win? Is it stamp duty? The free money for nothing that a certain chancellor used to underpin every budget for 12 years?
Get out your Garbage,Ash, Oasis and Blur CDs. We're going back to the 90's...