I'm not sure lending 125% of property value can be described as responsible...just my two-penneth. Which I've already withdrawn.
(
J Peasemould Gruntfuttock Alpha Mike Foxtrot,
Mon 17 Sep 2007, 10:33,
archived)
Northern Rock are not the dodgiest of the dodgy sub-prime lendersbut they do do specialist lending that other lenders don't.
I imagine they'd only lend 125% where the money was needed for renovation and the renovated value would cover the entire loan.
(I imagine they'd only lend 125% where the money was needed for renovation and the renovated value would cover the entire loan.
in vino veritas,
Mon 17 Sep 2007, 10:41,
archived)