Obviously very few lessons have been learned from the 2008 financial collapse and once again the banksters are providing big, big – 95% mortgages – for first time buyers. Well, it is now a case of sitting back and waiting only for the bubble to burst and when it does the impoverished masses up and down the UK will be sitting on negative equity, will end up, once again, being turfed out of their homes and, will have nowhere to go because …. well, because there will be no affordable housing available.
However, no need for the greedy pigs to panic and the conglomeration of pigsties, mafiosi, and fraudsters, that make up Mr Cameron’s constituency will provide a number of winners with Sandy Chen, a banking analyst at Cenkos Securities, stating that there are a lot of bankers who will apply under the scheme.. “Getting a 95% loan to value mortgage lets you speculate on the expected house price increases a lot more than a 75% mortgage,” he said. “Bankers are speculative types and are likely to be highly attracted to the possibility of making lots of money.”
Indeed, clever chappies those banksters; get in, get the mortgage, don’t have to live in the house, and sell when the price reaches a certain point. Just before the bubble burst, perhaps, but then it shouldn’t be too much of a risk, but then we might rest assured that the banksters in the city will be the first to know when the bubble is going to burst. Just as they will be well aware of when it is time to dump their shares in the Royal Mail.