The furore over Northern Rock reveals that banks were borrowing overseas to, in effect, encourage the increase in house prices in the UK.
The policy has also helped to subsidise buy-to-rent buyers, thus deprivingworking class would-be house buyers of the privilege of becoming owner occupiers.
How patriotic!
It's good to see major lenders being punished for their greed.
What comes around, goes around.
GLYN LIMMER Roosevelt Road Long Hanborough Witney
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