Cabe the simple fact is some people cannot budget or manage their finances in any way. Got a son like that. Means well, tries hard, but always stuffs up. The banks & mortgage brokers have a duty of care to make sure a person can repay loans, taking into account ir rises. But they dont care because they win every way. There are people on record making disclosures that the bank or broker ignored :"you didnt tell me that;)" , "I never heard that". The institution concerned just wants their commission. Credit cards for teenagers is another example.......
