3 ms·
Problem was it divided people into the ones who could afford the hike in interest and the ones who couldn’t. Either you could keep up and were rewarded by a hou
by jonplackett 7y ago
Problem was it divided people into the ones who could afford the hike in interest and the ones who couldn’t. Either you could keep up and were rewarded by a house going up in value massively, or you went bankrupt.
- aaronblohowiak 7y agoThey didn’t have fixed rate debt?
- mc3 7y agoIn the UK typically people only fix for a short period, say 2 years, if at all. The premium for fixing for 25 years is quite high.