No-Money-Down Property Loans That Sank U.K. Housing Return

" Easy credit is back in the U.K., and this time the government and homebuilders are making the loans. Seeking to recover from the worst recession in a generation, Britain is helping as many as 10,000 buyers obtain 100 percent financing through a 300-million-pound plan called HomeBuy Direct at a time when mortgages are scarce and, according to Ernst & Young LLC, home prices will “stagnate” for at least two more years."