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Debate House Prices
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Government's Mortgage Rescue
Comments
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All this crap on bail-outs for people who can't afford their payments, or who have over-extended themselves, props up prices, rigs the market, and is stopping good money coming in to the market.
Instead it seems those VIs who don't want prices to correct want to be bailed out and deny a healthy market.
And no - I don't want a mortgage if I can possibly help it. If prices go the way I expect them to, I'm hoping to find great value for a lot less than £100K in the market.[/quote]
From what I understand you would struggle to sell at any price (especially if it is a flat) at the moment.
Some people have no safety net of people to stay with.
Have children who would be unsettled
Perhaps we should just turf them out after all it is their fault, obviously having a mortgage is the cause. Not irresponsible lending.:rolleyes:0 -
lostinrates wrote: »
Maximum protection 12 months!
Helpful but not long term.
My fault for lack of clarity.
Our income will soon be protected for a considerable propertion of DH's salary by insurance. This will last till our pension provision kicks in and allow us to continue making pension contributions. It is this type of insurance (rather than a product I surmise from your post is term 'payment protection' but doesn't sound like it is!) that I feel should be mandatory.0 -
Perhaps we should just turf them out after all it is their fault, obviously having a mortgage is the cause. Not irresponsible lending.:rolleyes:
Well before I rented a place, but now I'm living at my parents, and so is my sister who has a high-flying well-paid job.
Why should the people you care so much about, who can't afford their payments or obligations, be allowed to remain in property they can't afford...
..when there are many others living in rented or with parents, and many more new younger generations coming through, wanting to buy a house at an affordable level????
They should do what I have had to do - and many others. Go rent, or go share, or go back to parents.
Maybe I should also have just taken a £200,000 mortgage and kicked back without worry of being able to pay it, because I'd be bailed out.0 -
Why should the people you care so much about, who can't afford their payments or obligations, be allowed to remain in property they can't afford...
.
I would reserve comment; you never know what will happen in the future, it could be you asking for help.:eek:
It’s called empathy.;)
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Dithering_Dad wrote: »Why do you have to share with anyone at all, why can't you take financial responsibility for your own life? .
I don't see why living with family isn't taking financial responsibility for one's own life....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Dithering_Dad wrote: »when the happy day arrives they find they have a disabled child. Suddenly the costs are much higher than budgeted, Mum can't go back to work as planned and so you get into difficulties (not everyone is lucky enough like me to work in a business where they can go contracting to bring in the cash).
It must be hard for all of you. In what way is your child disabled?...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Cmon show me s5gi7-6aI would reserve comment; you never know what will happen in the future, it could be you asking for help.:eek:
It’s called empathy.;)
It isn't like I want them rounded up and sent to death camps now is it.
I just don't see why anyone should be allowed to have the magnificence of their own property, when they can't afford to keep payments for their mortgage commitments.
Renting or sharing or moving back to parents is not death itself. Sell the place if you can't afford it. Why should we be bailing them out. If I can rent or share or move back to parents, others can too.0 -
lostinrates wrote: »
My fault for lack of clarity.
Our income will soon be protected for a considerable propertion of DH's salary by insurance. This will last till our pension provision kicks in and allow us to continue making pension contributions. It is this type of insurance (rather than a product I surmise from your post is term 'payment protection' but doesn't sound like it is!) that I feel should be mandatory.
No I think income protection is only for a maximum of 12 months (I have it)
I would check you policy, you know how misleading they can be.0 -
Cmon show me s5gi7-6a
It isn't like I want them rounded up and sent to death camps now is it.
I just don't see why anyone should be allowed to have the magnificence of their own property, when they can't afford to keep payments for their mortgage commitments.
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Neither should they be slaughtered for posting for help or looked down upon.
I was always told if you can't say anything nice don't say anything at all.;)0 -
lostinrates wrote: »
No I think income protection is only for a maximum of 12 months (I have it)
I would check you policy, you know how misleading they can be.
OK, yours might be for twelve months, ours will run til to 2044 - I'm pretty sure thats longer than 12 months (hmm, could be I've less faith in circumstance than you, or, dare I say it, have better planned for worst case scenarios?). Its an expensive policy (and we've chosen lumpsum policy). There is always the risk the insurance company will go under I guess.
I could well be calling it the wrong thing though.0
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