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Debate House Prices
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I don't suppose it is the done thing to laugh ...
Incisor
Posts: 2,271 Forumite
After the uprising of the 17th June The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee Stating that the people
Had forfeited the confidence of the government And could win it back only
By redoubled efforts. Would it not be easier In that case for the government
To dissolve the people
And elect another?
Had leaflets distributed in the Stalinallee Stating that the people
Had forfeited the confidence of the government And could win it back only
By redoubled efforts. Would it not be easier In that case for the government
To dissolve the people
And elect another?
0
Comments
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You have to just wonder what must go through people's minds (if anything) when they depend on their overtime and bonuses to pay for their regular monthly outgoings.
Idiots.Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
[strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!!
● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.730 -
Dithering_Dad wrote: »You have to just wonder what must go through people's minds (if anything) when they depend on their overtime and bonuses to pay for their regular monthly outgoings.
Idiots.
Prices only go up mixed with a bit of greed, I'd imagine.0 -
''We are victims of irresponsible lending which was unsustainable''
Ummm, it was you who asked for the money..........................
Yes i agree, greed played a big part.0 -
The Banks fault not the brokers.after failing to look at their £446,000 income, BoS doubled its typical income multiple
Which means that they probably weren't guaranteed last year! Did they lie to the broker?We didn't lie. Last year we had guaranteed bonuses which nearly doubled our income, but this time they will be zero
No, they were victims of irresponsible borrowing and are now looking to blame somebody else.We are victims of irresponsible lending which was unsustainable - the brokers picked up £6,450 for this
As for the brokers procuration fee, I've said for a long time that there should be a cap.The bank says: "This loan was sold via an adviser, so it is the adviser's responsibility to satisfy themselves that the income quoted is correct and can be evidenced."
The broker gave, according to the article, accurate income details as per the information provided by the clients, as the bonuses were guaranteed. Many lenders will lend against guaranteed bonuses or overtime.
The broker didn't invent their affordability calculator, BOS did!
Everybody seems to be blaming the bloker when it is clearly a case of irresponsible underwriting and irresponsible borrowing.I am a Mortgage Consultant and don't like to be told what I can and can't put in a signature so long as it's legal and truthful.0 -
''We are victims of irresponsible lending which was unsustainable''
Ummm, it was you who asked for the money..........................
Yes i agree, greed played a big part.
These people's combined basic income is £446k pa. While I don't equate earnings with intelligence I'd imagine anyone with that kind of salary has to have a rudimentary understanding of finance. How can they have the temerity to blame anyone else for their current circumstance?0 -
I was offered 7.2 times my salary back in May by my bank. That was on a single income - my monthly repayments would've been more than my salary and I don't get overtime or a yearly bonus!
Ran away quick from that bank.0 -
Bank of Scotland - part of HBOS, which is being bailed out by the taxpayer - lent a couple reliant on City bonuses eight times their joint salary to buy a "dream Sussex farmhouse." It agreed a £1.5m mortgage without investigating their earnings, despite monthly repayments almost equalling their combined take-home pay.
Peter and Josie Connell - not their real names - are City traders. They could not believe their luck when the bank approved the loan last December.
God yes, imagine being saddled with all that unmanagable debt, the lucky sods! :rolleyes:Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
I'm getting increasingly !!!!!! off with the 'it's the brokers fault' blame stories. I think I'm going to set up in business as a defence for wronged advisers.
They are always portrayed as the bad boys (don't get me wrong, there are many bad brokers) when it's the lenders who are greedy and the clients who lie.I am a Mortgage Consultant and don't like to be told what I can and can't put in a signature so long as it's legal and truthful.0 -
Max_Headroom wrote: »God yes, imagine being saddled with all that unmanagable debt, the lucky sods! :rolleyes:
lol, don't all wish we were lucky enough to be saddled with that much debt.
We can only dream.Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
[strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!!
● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.730 -
In 2005 we needed to relocate for work.
Went to broker who did lots of tapping on a calculator; draw equity off this one, add to other, let out that house, buy this, consolidate that...bla bla bla.
End result..a mortgage debt of around 450k. We also had business debt. The whole thing scared me and we didn't take it further. Rented in new location instead.
We would be in dire straits now if we had saddled ourselves with that amount of personally liable debt despite relying on a tenant to service half of it.
Not a lot of sympathy from me.
They were 'lucky' as they sold it, so lesson learnt I guess. I reckon there are a lot more out there who can't sell to cover the outstanding mortgage.
Heard gossip that Lenhams employees secured big loans on their shares (now worth nothing)...don't know how true it is.0
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