February 25, 2009
£2m home and a squatter
Story link: £2m home and a squatter
The banks overlooked the fact that the property owner and of course the person who applied for the loan had no form of steady income, but still wanted take over repayments on a £1.2m loan. We wonder why the banks and the financial industry as a whole are in the current situation.
What makes me laugh, is a friend who earns a very respectable and steady wage, was refused an overdraft increase from £100 up to £200, due to the fact that he has to be out of his overdraft completely for three months, yet they will lend £1.2m to someone with no form of income.
Aged 71 and the daughter of a millionaire property tycoon, she’s not your average squatter. But Rosalie Reeves-Fisher says she has no choice.
The spinster inherited her £2.2million home from her mother, who bought it in 1973 after the death of her husband, a millionaire property developer.