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In 2012, the Treasury leaned on the Bank of England to provide low-cost financing for banks that extended mortgages.
"Bourn Hall had to be established privately because the NHS wouldn't pay for it".As the happy families mingle in the grounds, drinking champagne and taking pictures of their children with Louise Brown, they swap stories of hope, bitter disappointment and eventual joy, but also of loans from grandparents, extended mortgages, and second and third jobs taken to pay for treatment.
To reduce monthly payments lenders have extended mortgages to 45 years.
Borrowers chose, and were extended, mortgages that they could not be expected to service in the longer term.
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Banks and mortgage brokers could extend mortgages, or cut the amount of the loan or the interest rate.
But there are some big ones, such as Scotwest in Glasgow, which has 21,000 members and extends mortgages.
Five years ago, banks were extending mortgages to anybody who walked in the door; today, many good borrowers can't get credit.
China's banking regulator said it would allow banks to extend mortgages that have used shares as collateral.
But that is a result of the collapse of private lenders' willingness to extend mortgages and of government efforts to use the FHA to mitigate the housing crisis.
By extending mortgages to unqualified lenders and accumulating large inventories of subprime securities, banks and other financial institutions took on enormous risks, often without realizing it.
Cities are starting to reverse previous bans on owning multiple homes, for example, and the central bank has once again recently encouraged banks to extend mortgages.
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