Every financial bubble throughout history has always involved loose credit. Well, since the late great housing ponzi scheme is the biggest bubble in human history, it's very appropriate and expected to see the biggest and best example of loose credit ever seen on planet earth.

Here's the news from the UK today - the 125% mortgage. Go out and buy that waaayyy overpriced flat you silly kids. Don't put anything down. Heck, you don't even need great credit. Then get 25% more than you can find a corrupt appraiser to value it at, and go blow it! Hookers! Cocaine! Furniture! A new car! A trip to Dubai! Knock yourselves out.

Then of course go bankrupt, and leave someone in China holding the bag.

Party!!!

HBOS is set to introduce a 125 per cent mortgage - that means the product is worth a quarter more than the house value.

The new mortgage is set to be launched next week, however, industry experts have warned that the move could plunge some people into large levels of debt, tying them to the property for longer than they would wish.

Designed to give fist-time-buyers the chance to get onto the property ladder, the HBOS mortgage aims to offer customers more money to use on things such as stamp duty and household goods.