Wimpey

nutterd
When an explanation of an aberrant phenomenon is that we are dealing with something new I get nervous. The dot com boom was explained at the time by a new paradigm.. profits didnt matter anymore!
If interest rates went up just 1.25%(last seen in Sept 2001) then those with an interest only mortgage would face a 1/3rd higher repayments. Put it onto the credit card ..I don't think so.
Self certificated mortgages with inflated (ie untrue)incomes are contributing to the boom and interest-only mortgages really could be buying on the never-never ie never be able to repay the capital.
Wmpy imo is a good short term hold but we saw what just 0.25% rise did to the share price.