The US got the brunt of that particular crisis. The UK didn’t seem quite as bad, although I did notice you needed a much larger deposit after that. Pre subprime-crisis they were cheerfully handing out 110% mortgages, which in retrospect was fucking mental.
Blackmist@feddit.uk 8 months ago
Is that standard in some countries?
Most of the ones I see in the UK are like 5 years, max.
homura1650@lemmy.world 8 months ago
It is standard in the US. Adjustable rate mortgages are available as well, but they have not been popular since the 2008 crisis.
Blackmist@feddit.uk 8 months ago
Yeah, that’s understandable.
The US got the brunt of that particular crisis. The UK didn’t seem quite as bad, although I did notice you needed a much larger deposit after that. Pre subprime-crisis they were cheerfully handing out 110% mortgages, which in retrospect was fucking mental.