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<blockquote data-quote="dave mountain" data-source="post: 7915053" data-attributes="member: 148078"><p>Thats not true. Just because you can afford £700/month in rent now, doesn't mean you can afford £500/month for the whole term of the mortgage, accounting for rate rises, house price crashes, recessions etc. Loads of people currently renting have deposits and want a mortgage but the banks wont give them one (because their income is too low) which makes them understandably quite angry.</p><p></p><p>People seem to have forgotten very quickly about the sub-prime mortgage crisis which collapsed the global economy not even 15 years ago, which was caused precisely by banks making exactly these kinds of loans.</p></blockquote><p></p>
[QUOTE="dave mountain, post: 7915053, member: 148078"] Thats not true. Just because you can afford £700/month in rent now, doesn't mean you can afford £500/month for the whole term of the mortgage, accounting for rate rises, house price crashes, recessions etc. Loads of people currently renting have deposits and want a mortgage but the banks wont give them one (because their income is too low) which makes them understandably quite angry. People seem to have forgotten very quickly about the sub-prime mortgage crisis which collapsed the global economy not even 15 years ago, which was caused precisely by banks making exactly these kinds of loans. [/QUOTE]
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