Monday, 21 January 2008
Remind me how we got into this mess ?
At the start of what promises to be an interesting week on the Northern Crock front, here's a little reminder of how it all kicks off, from the Money section in this weekend's Grauniad: a lengthy article extolling the virtues of high loan-to-value mortgages.
Oh yes, you can still get 125% mortgages, it seems, and the Grauniad is there to help you, because as they say in the intro, it's not much fun having to find a deposit, is it? In an 815-word puff-piece, there is just this tiny caveat - and from an interviewee, not the writer of the article:
It is questionable whether now is the right time to take out a high-LTV mortgage because house prices are falling in some areas
Yes indeedy - but back to business ! "Guardian Money has been looking at the best mortgage deals still available for those looking to borrow 100%".
And good luck to all who sail in her.
going down ... and in light of the above, are we surprised ?
Posted by Nick Drew