Monday, Mar 26, 2007
UK subprime like in the US
Guardian: Income £517, mortgage £430. It's the new housing scam
Council house tenants are losing their homes after being targeted by mortgage companies encouraging them to borrow ridiculous amounts of money to buy their properties
Posted by confused76 @ 02:54 AM (152 views) Add Comment
1 Comment
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1. uncle tom said...
When will it dawn on our politicians that because many people have little understanding of money, a great many cannot make proper sense of percentages, and most cannot tell you what an APR is, they are failing in their duty to protect the public from exploitation.
After ten years of amoral government, and in particular, a ten year stint by an amoral chancellor, the current state of affairs is not totally surprising.
This should be good fodder for the opposition - but don't hold your breath!