Saturday, June 16, 2007
Costa del Back Garden this summer
Economy is growing, we are one of the wealthiest nations on earth, but... "Depressing statistics from the Council of Mortgage Lenders (CML) this week showed that mortgage interest payments are now eating up a bigger chunk of homeowners’ income than at any time in the past 15 years. And that’s just the interest. The 68 per cent of first-time buyers with a capital-repayment loan will be handing over an even bigger chunk of their monthly salary to feed the mortgage monster. If interest rates rise again, as is widely predicted, finances will become even tighter still"