Tuesday, February 24, 2009
Apparently the whole country is confused not just me
Labour's contradictory advice has evoked a sense of panic - and fuelled the very instability it is trying to remove
Does anyone know what sensible means anymore. At last someone confirming that I am not the only one that is confused. The past week the Bank of England / Gordon Brown /FSA have all said there must be a cap on mortgages and no more 6 x's income. Yet at the same time Gordon Brown has threatened lenders who need financial help saying that the government will not help unless they return to irresponsible lending, 90% mortgages to first time buyers. So if not 6 x's income what does the BOE /Mr Brown / FSA consider sensible lending? At what level will Northern Rock give these 90% mortgages to first time buyers? The median I believe is 3.35, so what are sensible lenders lending currently does anyone know?