From the esteemed BBC, we have Parents to pass on mortgage debt.
The "Inter-generational mortgage" would allow homeowners to take out an interest-only mortgage - and pass on both repayments and home when they die.
This is the stupidest thing I've seen since, well, the late 80's when Japanese banks created "100-year mortgages".
Why would anyone be so stupid to sign up for this nonsense?
And, why can't the BBC report the obvious -- that you are merely renting from the bank with an option for your children to buy? So just rent, and forget about burdening your children.
Japan was not "different". House prices plunged 90% over the next 15 years.
Neither are the UK, the US, and pretty much most of the developed nations (which have an extreme "housing bubble".)
This is the deep breath before the plunge!
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