Thank goodness for Mervyn King!

drbeat

space_rider wrote: »

There is no point having a go at mortgage advisors as I`m sure none of them actually had a gun to someones head to make them actually sign on the dotted line of the mortgage offer.

I hear and respect what you're saying, but my "go" at the MA was down to what I stated earlier:

When a mortgage advisor appears on this forum indicating that a rate cut will save the day??...well you have to question the sanity of such people.

I didn't post that they'd held a gun to anyone's head - but I do think that more then 3.5 or so times your salary is asking for trouble and is part of the on-going problem. And just as you've pointed out - as you went 5 x your salary - your quality of life has now diminished i.e. no holiday, a need for extra hours with less time for leisure etc; just how long do you think you can keep that up? Now times that by a few million people and what you end up with is a "problem" that does affect the economy and the general well being of the population.

dopester

neverdespairgirl wrote: »

I imagine pretty much all mortgage advisors are less busy than they were - but I don't find that particularly funny. I don't think anyone losing his job is a good thing, apart from, possibly, Gordon Brown.

I do think some job losses are a good thing. It is part of a correction.

Major aspects of an economy get distorted in a boom.

For true economists, "the boom" is the bad times, and not the good times. The boom is the time when all the mistakes get made.
(Business Cycles: The Bust - Professor Krassimir Petrov)

The downturn is part of a society's change and eventual renewal. They can be very painful, but mostly spark innovation and create fresh opportunities for new generations.

space_rider

but I do think that more then 3.5 or so times your salary is asking for trouble and is part of the on-going problem. And just as you've pointed out - as you went 5 x your salary - your quality of life has now diminished i.e. no holiday, a need for extra hours with less time for leisure etc; just how long do you think you can keep that up?

Lol! I changed my part time hours from 18 to 22 hours school term time only and I have already had a holiday early part of the year to the caribbean. So just to be on the safe I have not booked a holiday for this summer as it`s just not mortgages that are going up. Yes my mortgage is 5x but I have no other debt. The problem is when people over stretch themselves with mortgages and also other debt.

drbeat

space_rider wrote: »

Lol! I changed my part time hours from 18 to 22 hours school term time only and I have already had a holiday early part of the year to the caribbean. So just to be on the safe I have not booked a holiday for this summer as it`s just not mortgages that are going up. Yes my mortgage is 5x but I have no other debt. The problem is when people over stretch themselves with mortgages and also other debt.

LOL? so what did you get 5 x 6k? Still overstretching yourself. If you hadn't then they'd be no need to be on the "safe [side]".

Dan:_4

dopester wrote: »

I do think some job losses are a good thing. It is part of a correction.

As long as house prices fall, who cares about peoples jobs.

Dithering_Dad

dopester wrote: »

I do think some job losses are a good thing. It is part of a correction.

Hmnnn, unless it's your job that's lost.

space_rider

drbeat wrote: »

LOL? so what did you get 5 x 6k? Still overstretching yourself. If you hadn't then they'd be no need to be on the "safe [side]".

Oh drbeat. What is so wrong about being cautious? What would you be saying if I posted on a thread something like I`m about to lose my house because I got a mortgage 5 times my incoming, I have lots of debt, I`ve just blown hundreds of pounds on unnecessary electrical items and also had a 3 week holiday abroad and now I can`t afford the basic standard of living and I`m about to lose my home because I am now on my lenders SVR.

Dan:_4

Dithering_Dad wrote: »

Hmnnn, unless it's your job that's lost.

He dosen't think that far ahead.

space_rider

Oh and drbeat. I get more than 6k for my hours of work.

drbeat

space_rider wrote: »

Oh drbeat. What is so wrong about being cautious? What would you be saying if I posted on a thread something like I`m about to lose my house because I got a mortgage 5 times my incoming, I have lots of debt, I`ve just blown hundreds of pounds on unnecessary electrical items and also had a 3 week holiday abroad and now I can`t afford the basic standard of living and I`m about to lose my home because I am now on my lenders SVR.

No but you came on here spouting that we're or I'm having a go at an MA and they don't hold a gun to your head blah blah blah i borrowed 5x my salary. That's what you said. The "go" at the MA was about his rubbish on how rate decrease will save the day. If you cannot be bothered to read through the posts then I cannot be bothered to take your posts seriously!

6k it is possibly 6.5k with OT <---- see, the lack of seriousness continues.