Saturday, September 17, 2011
Rubbish mortgage lending threat
The return of 100 per cent loan-to-value mortgages offers false hope for first-time buyers and risks undermining the entire mortgage market, a European mortgage specialist has said. In desperate bid to keep house prices inflated more risky deals are being offered. When will the Government pass a law to prevent this sort of thing happening? Never, I guess, as it has a crazy addition to high house prices, despite the damage they do the economy.