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Comment by almosnow | Hacker News Reader

Contrary to common sense; if they believe that you can actually pay back within the mortgage terms you are not precisely their target audience.

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Not really, they still make money from someone if they've had a mortgage for a minimum period. They're still making the interest every month until it is paid back, even early. If someone pays back money early then it means they can lend out more (assuming leverage limits are being enforced). And, depending on the initial conditions of the mortgage, they may even get more money because of early repayment fees.

In the UK there are mortgages available for those doing consulting work (i.e. not on a regular salary). They generally have an interest rate about 2% higher than mortgages available for those with salaries.

Never said they didn't make money from you, I just said you are not their target audience, as in implying that you are not precisely a customer that they are dying to have with them, in other words, they can axe you out without thinking about it too much.

Also, downvotes? really? do you guys even bank?

Haha, go fuck yourselves .|.

In the US there are highly predatory lenders who get away with things like early payment penalty charges and up-fronting the entire loan term's interest so you end up paying the full amount no matter when you pay it off.

Huh?

I think what almosnow is trying to say is, "banks only want to lend money to people who can prove they don't need it".

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