IT: Home Choice Loans, Another Stupid State Intervention

Pity it’s only in the business section.

The IT article states that you must have been rejected by two commercial banks for a similar loan first. I hadn’t heard that before. Not sure the effect of it though.

This scheme is indeed nothing more than sub prime lending by the Government in a effort to help their builder benefactors sell their unsaleable overpriced (new) houses to people who should at this stage of a declining price market be renting until the market reaches the bottom. The government are at this stage exhibiting all the signs of the headless chicken syndrome.