A View From Middle England - Conservative with a slight libertarian touch - For Christian charity and traditional belief - Free Enterprise NOT Covert Corporatism

Monday, October 08, 2007

Cowboys and Mortgage Lenders!

Panorama on BBC1 has exposed the rotten way the so-called "sub-prime" mortgage business has invaded the UK housing market. From salesmen no better than suited crooks to the turkeys running the FSA and the Council of Mortgage Lenders. In fact, the guy put up to respond to the way companies are offering mortgages seemed to suggest nothing was wrong. Ostriches can get jobs in Britain today, it seems.

One company, Home and County Mortgages, appears to be well and truly offering trees bearing money! The boss pays himself over £1 million but does a runner when a TV reporter arrives at his office. Home and County get their lawyers to respond. No mention of the alleged document shredding!

The whole thing stinks. It seems every bank in Britain has a subsidiary swilling around in this cesspit of monopoly money. And if, as Panorama suggested, large sections of the housing market where these mortages exist collapse, then we ALL suffer. Well, those with ordinary lives to lead. The cowboys will have left town!

The Panorama programme tonight. It's a depressing exposure of financial tomfoolery!

The Home and County response to the BBC


Post a Comment