It is their responsibility to be fiscally responsible and plan their spending in a way to have sound finances. Taking out a mortgage with near zero deposit wit

It is their responsibility to be fiscally responsible and plan their spending in a way to have sound finances. Taking out a mortgage with near zero deposit with monthly repayment that takes 3/4 of your family income is irresponsible and I disagree with stripping such people of any responsibility. Just because it's easy to get a loan doesn't mean consumer is not responsible for judging feasibility of the loan. What if interest rates go up and my monthly repayment goes up by 10-15%? What if I lose my job tomorrow and it will take me 6 months to find a new role? These and similar are common sense questions a consumer should ask himself/herself before taking out a loan. I am not going to put 100% of the blame on the bankers. You don't need a degree in economics to be able to ask these simple common sense questions and make a judgement on whether it's a good idea to take out that loan.