Northern Rock: more than 4% of mortgage customers are in arrears

Northern rock needs house prices to go up by 10% to 15% to be saved.


The current government policy seems to be to bail out those who borrowed too much. With inflation at around 4% and interest rates on saving at around 2.5%, sensible people really are paying for those who spent too much and can’t afford to pay it back.

Negative returns on savings with rising house prices punishes people who make the right decisions.

Savers revolt