Lendng too much

It is often thought that to buy property in London you need a bank account the size of a small country. Well nowadays that may be the case. As it has become increasingly more difficult to obtain a mortgage from the banks. There are so many checkpoints and so many barriers to entry that the market is being shut down to many new buyers. 5-10 years ago, this was not the case. It was quite easy to obtain a mortgage of the 80-90% of the value of your property. That is one of the main reasons the whole banking system in the world collapsed in 2009- the banks were lending money to anyone and everyone!
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