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Is It Any Wonder Bank Of Scotland Went Bust?

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http://www.independent.ie/national-news/top-doctor-hands-back-83642m-luxury-family-home-2232559.html

So this charmer of a doctor is 27 months in arrears on a 30 month loan? Nice work if you can get it.

On reading this we find the Dr borrowed 3,645,000 Euros in 2007 for two properties. The first one was a stepped mortgage set to have large increases in the payments. This is such madness it beggars belief.

The more we read about introductions of strict lending criteris and caps on loans against income the better. This is when you have to say lenders are at fault, perhaps even more than borrowers. A borrower assumes (and maybe wrongly) that if they are granted a loan it is therefore adjudged safe for them to borrow.

I wonder if these were self cert loans? Or is it that demand for the good Dr's cosmetic medicine fell sharply as it's a discretionary spend that need not happen in recession.

Edited by plummet expert

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She said mortgage arrears now stood at more than €250,000. Repayments had risen from €6,500 a month in 2007 to €9,300 and were 27 months in arrears.

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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