The US got the brunt of that particular crisis. The UK didn’t seem quite as bad, although I did notice you needed a much larger deposit after that. Pre subprime-crisis they were cheerfully handing out 110% mortgages, which in retrospect was fucking mental.
This is why you get a fixed rate mortgage
Is that standard in some countries?
Most of the ones I see in the UK are like 5 years, max.
It is standard in the US. Adjustable rate mortgages are available as well, but they have not been popular since the 2008 crisis.
Yeah, that’s understandable.
The US got the brunt of that particular crisis. The UK didn’t seem quite as bad, although I did notice you needed a much larger deposit after that. Pre subprime-crisis they were cheerfully handing out 110% mortgages, which in retrospect was fucking mental.