As thousands of homeowners with mortgages held by banks the taxpayer owns face repossession and hopeful homeowners are refused cash by the same banks, a scam from the ranks of City bonuses emerges. Professional footballers and other wealthy customers are being offered secret, preferential mortgage deals by the Royal Bank of Scotland. About £2 billion has been earmarked for lending through the Queen’s bank Coutt’s – a subsidiary of RBS and, therefore, presumably owned by us – to rich people paying a paltry 5 per cent deposit on properties. Other customers have to prove they can stump up 25 per cent or get the two fingers.
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