Is the uk mortgage economy a ticking time-bomb? 52 year mortgages and 5 times your salary?
If only leutenent columbo was an estate agent
Answer
I reckon so, im
waiting for a collapse, as are a couple of my pals who have sold and rented keeping the profit in a bank. interest is due to go up this week to 5%, and it will need to go up again before february. sounds nice
to me, loads
of cheap houses that have been repossessed because silly people cant keep up with the payments when the fixed rate runs out and the payments increase by 40% a month.
