I read this article that suggests some mortgage brokers are encouraging homebuyers to lie about their finances. Some lenders are giving people up to eight times their salary. Experts have warned that this type of irresponsible lending could drag Britain into a US-style subprime mortgage crisis. Brokers have been pushing first time buyers to take out “self certification” mortgages that let people state their income without any proper employer checks to see if they qualify. Self-certification home loans now account for one in every ten mortgages as opposed to one in twenty four years ago. It just seems silly to me to encourage people to borrow more than they can afford to pay to back, and personally I find it hard to believe there are companies that do this.