If you can come up with 20%, then they'll lend and repossess. Like the taxman, the banks don't like to lose.

I know a number of people that have mortgaged up the to hilt both here and UK, and come unstuck.

There was a woman in London who wrote a column for the Evening Standard who claimed she was broke and in financial hardship, even though she owned a large townhouse and apartment in North London. There was a major outcry from the readers at her arrogance, and she has since sold the house...

dave