Monday, February 23, 2009

A 100% Ban on UK Mortgages?

Recession is slowly and steadily pouncing on each and every nation around the globe and with no sign of economy picking UK is likely to impose a blanket ban on mortgages in the country

This seems very likely as the PM intends to save the banking system of the country which is already bleeding under the effect of recession, thanks to some senseless steps taken by them to up the business. (Greed has got no dimensions I must say)

Also the country is expected to announce a 500 billion pound bailout package soon which would surely cause a pinch to the taxpayers in these harsh times so a ban on mortgage makes sense at the moment. Dear Prime Minister in these bad times don’t expect people to even cast a look at mortgages as you wont find any takers for it J

My take:

In the good times we tend to forget that it never lasts forever and we only tend to realize when the ship leaves the port. So true when we talk about human nature!!

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