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Julian Cope presents Head Heritage

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Teetering on the brink of the new Depression
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nigelswift
8112 posts

Re: There's still a bombshell to go off
Sep 20, 2008, 11:13
"Its a chicken/egg relationship, and now the egg doesnt exist anymore."

Well in the fifties, when you wanted a mortgage, you'd have to beg, then go on a six month waiting list, prove you and your parents and grandparents were respectable and then maybe they'd give you a 75% loan. In the past decade, mortgage intermediaries package applications having fictionalised the status of the applicants and the property and next day decisions could be given for 13O% loans! It was an open secret that for a period the largest UK building society asked for the names of references but rarely followed them up! As a young valuer a local agent offered me £1,000 per "good" valuation. Not bad for an hours work, for someone with a young family earning less than 8K a year! And really, proving someone is crooked is quite hard, it's only a "judgement" after all.
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Re: There's still a bombshell to go off (stray)		 Replies:
Re: There's still a bombshell to go off (handofdave)
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