The dangers of borrowing

Without getting into a political debate, the Labour years stood for borrowing, at both a national and personal level. This filtered into all areas of society, including the way regulation was formulated and implemented. In simplistic terms, it became easier to borrow than to save. Mortgage regulation therefore had minimum intervention or oversight by any regulator, at all levels, which as an example, created the ability for clients to enter into potentially inappropriate contracts, such as using the equity in their own residential property to fund the leveraged acquisition of buy-to-let ...