New mortgage rules prefer corporate dullards to wealthy entrepreneurs, says our resident Doer Upper Alan Page, as he misses the joys of seeing a proper bank manager.
If you’re rich you can’t borrow. If you’re poor you can’t borrow.
Only if you’re a dull worker bee with a penchant for frugal living and a steady, going-nowhere job can you be pretty sure of securing a mortgage.
That’s the apparent outcome of the recent tightening of lending checks.
It’s absurd, it’s counter-productive and it’s not going to end well.