Originally Posted by neilm
Originally Posted by Punkie
Sub Prime lending is the reason I will be able to afford a house sooner than Id hoped.
So in this respect, being selfish, it is good.
Well you need to be very careful because what Panorama showed was that the interest rates on Sub prime are almost double, and over double in some cases, the rates you could get on the high street from main stream lenders.
The irony is, you could be paying almost double a month to a person who has the same mortgage as you but they've either self certified with a main stream lender or managed to get a mortgage legitimately.
By that I meant that sub prime lending is going to eventually collapse things and house prices might become just about affordable.
