Jump to content
House Price Crash Forum
Sign in to follow this  

'mortgage Theory Test'

Recommended Posts

imo a 'Mortgage Theory Test' should be introduced. 10 questions relating to mortgages and basic economics. Failure to score 70% and a mortgage application should be declined.

We don't allow people to operate a vehicle or heavy machinery etc without first knowing the theory, pitfalls and dangers of doing so. Getting into a financial mess can be equally as damaging to self and family as an accident.

I've just had a serious reality check at just how little basic knowledge Mrs Singlemalt has and she's quite educated and with a decent job! :huh:

No idea of the base rate.

No idea what QE is.

No idea of what inflation is.

Could only provide a vague explaination of mechanics behind fixed/variable rate.



I reckon my wife is quite typical of many people as well, blissfully ignorant. No wonder the country's finances are in such a state.

Share this post

Link to post
Share on other sites

Why? Let people have what they want. If there's a problem the government will borrow money on our behalf to underwrite the loan and / or bail the people out.

They'll also borrow money on our behalf so people needing a hand onto the ladder can have some help towards the cost or some shared equity scheme.


Next you'll be proposing building more houses or something ridiculous like that.

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   296 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.