In this curious, emotive article, Patrick Collinson argues that the cash-poor have to pay more for their mortgages, compounding their cash difficulties.

it's easier to get a 90% mortgage today than at any time since the credit crunch began. And here's the bad news: interest rates (from 4.49%) on 90% loans are steep, and if it's a 95% loan you want, the rate can spiral to 7%, equal to 14 times the Bank of England base rate.

Er, isn't that exactly what lenders should be doing... charging more for higher-risk borrowers and less for lower-risk borrowers?

People who read this post also read:

• Sometimes Ritchie shoots himself in the foot
• That David Cameron family tax haven non-story in full
• Charity questions for Polly
• Outrage over Barclays and Diamond’s tax bill
• Taxing the super rich

Filed under: Economics, Other blogs with tags guardian, idiots, mortgages, patrick collinson