Tuesday, May 27, 2008
Liar Loans Inaction - Watch The Sky News Undercover Video
SKY NEWS: VIDEO OF LIAR LOANS - WATCH THIS!!
Sky Discovers Dodgy Mortgage Deals
A Sky News investigation has found evidence of mortgage brokers misleading lenders and arranging loans they know buyers can't afford. Joel Hills found some brokers seem prepared to bend the rules to seal a deal.
Posted by eric pebble @ 11:05 AM (295 views) Add Comment
5 Comments
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1. bidin'matime said...
Eric - all good stuff, but (in the absence of any other comments) I can only conclude that people on this site have become resigned to the criminality in the mortgage business and, now seeing the credit crunch underway, are just waiting for the chickend to come home to roost..
2. crash bandicoot said...
You're right bidin'matime the BBC reported this 2 or 3 years ago and nobody took any notice. Now let (all of) them suffer the consequences.
3. Bobby9983 said...
Tragic. I can't believe the brokers on there would be so stupid.
4. nubbers said...
This sort of thing has been going on for a long time. In 1999 on the advice of a broker, I used a BTL loan to purchase a house that I subsequently moved into. This was more due to the nature of my income as a Contractor and I never had any trouble paying the mortgage, but what has been going on recently is only really a matter of scale.
5. mken said...
Weird thing is this report says brokers only doing this SINCE the credit crunch
Rather than saying this is actually what caused it