Northern Rock and risky mortgages … still???
There’s an article in the Independent :: here :: which states that the beleagured Northern Rock is still offering mortgages at 6 times annual salary with a good credit rating - 4 times with a bad credit rating!
They’re offering 96% mortgages, with an additional £30,000 loan available, which could put some first time buyers into a serious negative equity situation.
Madness, or what?