Abbey, the UK’s third largest mortgage lender, has received strong criticism for its launch of a new type of home loan that will provide funding of up to 125% of a property’s purchase price.The loan, which is being offered to first-time buyers and others across the country in a pilot scheme, is entirely secured on [...]
After the way the banking industry lambasted Mervyn King for not rushing to help Northern Rock, it's pretty amazing that they'll stand back and encourage continue aggressive acquisition strategies in the mortgage sector. Not on at all, really.
Abbey mortgage launch shocks debt advisors
