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40% + home loans in Blighty are intrest only, bear in mind they are worth either the same or less than when they were bought. Banks have now sussed that when it comes time to pay off the house the "sheep" will not have any cash.
Thus Barclays are walking away now, others will follow soon.......lots of mortages require resetting after 3-4 years & NO ONE will be able to roll over the loans......another Bloodbath coming ;))
Mike
40% + home loans in Blighty are intrest only, bear in mind they are worth either the same or less than when they were bought. Banks have now sussed that when it comes time to pay off the house the "sheep" will not have any cash.
Thus Barclays are walking away now, others will follow soon.......lots of mortages require resetting after 3-4 years & NO ONE will be able to roll over the loans......another Bloodbath coming ;))
Mike