And therein lies the rub: while there are some fantastic rates available, not everyone qualifies for them.
The mortgage market seems to be splintering into two – the haves (those with substantial amounts of equity or a big deposit) and the have-nots (those who have only modest equity or a small deposit). It means those who are can least afford it must pay the highest rates of interest because lenders regard them as higher risk.
You say that like it\’s a bad thing.
Yet the original problem was not discriminating between borrowers on the basis of risk. This is exactly what we want, lenders discriminating.
And yet people complain…..