Alistair Darling has announced proposals for the use of cigarette type health warnings on mortgages and other financial products. These would be highly visible, and would be appended to all financial products.
However, much like the warnings on cigarette packets, whether anyone will take the slightest bit of notice of them is open to debate.
They already do, ok in smaller text, but they do have them and have for years.
ReplyDeleteHow about they stop telling people on £20k that they can have 100k mortgages instead?
Seriously when we were looking for a house mid 2008 we were told we could have £180k on £40k salary before tax. Thats £810 a month on interest only and £1015 per month on repayment. Show me a family/couple that can REALLY afford that on £40k salaries???