united kingdom of santander
james36armstrong at hotmail.com
Sat May 30 09:43:07 BST 2009
.They used to be Alliance Assurance Company , Leicester Building Society, Bradford and Bingley Building Society. Now 'it' is Santander.
Mortgage lenders are a necessary evil , because house prices have been engineered to stratospheric levels out of reach of income, and providing your own housing virtually forbidden by hiking site values and an embargo on building without permission. (arguably an infringement of the most basic of human rights in a time of severe housing deprivation) . The downside of mortgages is that already inflated house prices are hiked again by a factor of 2.4 when you repay the mortgage with interest of 5% over 25 years. Mortgage lenders hold title to the ownership of the property until the mortgage is repaid.
Hey Presto!, unaccountably, Santander, not a well known British institution, have just acquired ownership of a large chunk of Britain. ....Who still believes we live in a democracy?
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