Saturday, October 31, 2015

Let’s party like it’s 2007!

Sub-prime mortgages make surprise comeback in the UK

Sub-prime mortgages, widely blamed for causing the 2007-08 financial crisis, are making a surprise comeback in the UK, with several new lenders launching home loans for people with poor credit histories. Lenders are targeting people who have faced serious financial problems including repossession and bankruptcy – as well as those with more minor blots on their records – for the mortgages, which come with interest rates as high as 8%.

Posted by quiet guy @ 12:13 PM (3032 views)
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3 thoughts on “Let’s party like it’s 2007!

  • The quest for yield. That old chestnut. I heard that Greece is wanting to return to the sub prime market?

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  • With it having collapsed to zero, sub-prime has a long way to grow before becoming a cause of instability again. Sorry guys, just the way it is. As said, I see that point being reached, 2024 to 2026.

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  • @ libertas – there are so many convoluted props in the various financial markets that any predictions are akin to predicting the weather ie beyond the 5 day forecast is really guess work.

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