Tuesday, October 14, 2008
Will it be easier to get a mortgage now?
"it ought to be. The part-nationalised banks are committed to returning to 2007 levels of lending. New mortgages are at only 30 per cent of last year's levels, so something had to be done. We'll see big cuts in interest rates too." .....as predicted ramping growing in decibels, Krusty and Phil will be renegotiating a new series of Location etc. As GB has always said - 'House prices only ever go up and if they don't I'll Bl**dy well fix it so they do". This rescue package on the whole is good to stabilise a very shaky financial sector, but to insist the lenders (responsible for 45% of all mortgages in the UK) return to 2007 levels of mortgages is plain criminal and done purely for votes and not the long term stability of UK PLC.