American mortgages being bought and 're-sold' at a bargain price - could it happen in the UK?

Fascinating article from Bloomberg showing how companies are buying mortgage debt from lenders and then 'reducing' the loan so that it's affordable for the homeowner! On the one hand sounds like a sensible deal, but on the other hand, it feels a little like 'sub-prime' deals all over again! Read "Bank Charges May Surge as Mortgages Marked to Market"