Quote Originally Posted by KerrAvon View Post
Your post and, in particular, the claim of a 'wealth grab' is sadly typical of the anti-business narrative that appears to currently drive Labour. It's also wrong

Higher earning multiple mortgages were a response to rising house prices, not the cause of them. That was solely down to supply failing to keep up with demand. As for allowing people to take mortgages that would not be repaid into the borrower's 70s, what are you suggesting? That lenders practice age discrimination? That would be illegal after the Equality Act came into force.
Again, you report the situation as inevitable, that there was no alternative, nothing we could do to prevent the situation that now leads to millions of people unable to enjoy the basic security that we elders enjoy.

I'm suggesting that people should not have been allowed to take out mortgages beyond the scope of what they could afford to repay and repayments lasting longer than when they were, in normal circumstances, expected to retire and live on a pension. Isn't that just common sense? Would it have been so awful to deny this elasticity to people who were always going to struggle to repay their mortgage, or at least be tied to it well into retirement when we have simply created a situation where many young people simply don't have the slightest chance of such security even though they have good jobs? Seems hugely stacked in favour of us baby boomers again.