Tuesday, Jun 27, 2006

Great news all round - hussar for debt!

Telegraph: UK debt mountain still growing

Britain's household debt mountain has continued to rise, according to new figures from the British Bankers' Association.

An unexpectedly strong jump in mortgage lending during May suggests that the housing "mini-boom" could continue well into the second half of the year.

The BBA said that banks approved 81,298 mortgages for house purchases last month, 20pc higher than last year.

Posted by tyrellcorporation @ 02:26 PM (546 views)
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1. Waitingforhpc said...

people never learn...... till it is too late.

Maybe all these mortages are people getting fixed deals for the next 10 YEARS? Guy in my office just moved to a 4 bed house with 10 year fixed mortage , interest only. Says at 63 by then he could be dead so he is happy. They did make him do a medical though. He also said HPC of no interest to him at his time of life. He is settled for good and he did take some equity with him from a smaller house, but he has still borrowed about 5/6 times his salary!

Tuesday, June 27, 2006 03:45PM Report Comment

2. Twopper said...

Sounds to me like people are borrowing money to pay off credit card bills they can't afford.

Very healthy!

Tuesday, June 27, 2006 04:39PM Report Comment

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