NO SUB-PRIME MORTGAGE HERE

Many workers as they struggle to pay their mortgage are concerned about the so-called credit squeeze, but it does not affect members of the owning class as can be seen from the following.
"A palatial home complete with a Turkish bath for 20 people has been sold for £50 million, breaking the record for the most expensive new-build house in Britain, which was recently set by a nearby property. Toprak Mansion in north London boasts seven bedrooms, four kitchens and an 80ft dining room containing a 40ft table. It also has a green copper roof, Grecian-style pillars, a grand double staircase, a glass lift, a swimming pool with a glass bridge and a two-acre garden. The new owner, who has not been identified, is reported to be planning to spend £30 million on a makeover by an Italian designer to create a beauty salon, spa, helipad, cinema and squash court. ...The mansion was built on The Bishops Avenue, a street full of palatial homes that was once known as Millionaires' Row, but is now referred to as Billionaires' Row. The price tag trumps that paid for Palladio, a mansion in a nearby street that was bought last year by Lev Leviev, the Israeli billionaire, for £35 million."
(Daily Telegraph, 21 January) RD