BBC has been conducting a survey over the past 3 months. After looking at more than 7,000 court hearings, they found that lenders have been acting recklessly and disproportionately to give money to people who can not afford it. More than 70% of all repossessions are from people who could not afford the mortgage in the first place (sub-prime lending). Some borrowers were already on benefits when they got the mortgage.
Read the full story:
BBC Report: Go Here
BBC Radio: Radio 5 Podcast: Mortgage Mayhem
BBC TV: Panorama
Sub Prime Suspect: BBC 1, 2030 UK time, Monday 8 October
[tags]house repossession, sub prime mortgage, reckless lending[/tags]
