Saturday, April 14, 2007
In your dreams you may be first time lucky .. Fat chance, I’ll believe it when I see it.
"First-time buyers are finding it increasingly difficult to get a foot on the first rung of the property ladder, but mortgage lenders are coming up with increasingly ingenious ways to give a much-needed boost to those who lack the income or deposit to make their dreams a reality." Hear we go Sub-Prime again, yeh and it going to be low start in another fancy-dress for the ball. And what happens when the "Offer" (or should I say "Trap") ends, you won't be able to switch to another lender because its 9x income and this idea will have been squashed, you'll be locked into a Standard Variable Rate with an extra 2 or 3% because u'r more than 4x income.