Fears of a debt disaster as property market runs hot and changes to safe lending laws loom

Jacob had big dreams before the global financial crisis.

He wanted to develop his then property in the Tweed Valley into a tourist lodge.

But in November 2009, he had a serious accident on the farm tractor and could not work.

He asked his lender at the time — who he had taken a high-risk low-doc loan from — to let him defer mortgage repayments until he could resume work.

But the lender would not give him leeway and started charging higher interest and default fees.

“All they said is, ‘When are you going to pay?'” Jacob tells ABC News.

He was forced to put…