That's payments of about 25 grand a year to a bank for the privledge of living in a cheaply built house that wont stand upright by the time you've finished paying it off.
25 grand a year for the privledge of living on your next door neighbours doorstep surrounded by thousands of other 'cheaply' built homes with only one road in and one road out.. because its expensive to build roads and it takes up land that other cheaply built houses could be sitting on.
So is it cheap? It depends on your situation and how desperate you are to get involved in this great con.
Why not rent the house for half the cost and buy shares in the bank you were going to lend from.
