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.
3 comments:
Hang on, Buddy, no one saw this coming. The Great Consumer of Snot told us!
http://oldrightie.blogspot.com/2009/02/delusion-delusion-and-delusion.html
Maybe you should have a dance off with Vince? Bet he could tango you out of the economic spotlight.
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...
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