Government's Mortgage Rescue

chrisandanne

Would you rather they were put into a homeless persons hostel at the cost of £400 plus a WEEK.

My mind boggles that some poor bloke who's been chucked out of his job is going to walk into the job centre and encounter YOU.

What's up....seeing your future BTL empire slipping away 'cos the banks won't lend you any MEW money ?. A xxxx

chewmylegoff

Zammo wrote: »

Cut out the middle man, just find the nearest hard working tax payer and take his wallet. After all, it is his duty to bail you out for your own financial stupidity.

what if he is a hard working tax payer, should he mug himself? or just use the scheme that his own tax is paying for?

house184

Getting back on track the DCLG have not yet worked out the finer points of the mortgage rescue schemes so they are not actually due to be implemented in the imminent future. The changes to housing costs are due to take effect in april.

fc123

OP's gone.

Zammo

chrisandanne wrote: »

Would you rather they were put into a homeless persons hostel at the cost of £400 plus a WEEK.

No, I'd prefer the return of workhouses, where the poor would earn their keep rather than sponge off everyone else. And debtors prison would certainly make people think twice about obtaining a loan for that Audi TT they can't afford.

chrisandanne wrote: »

What's up....seeing your future BTL empire slipping away 'cos the banks won't lend you any MEW money ?. A xxxx

If house prices keep falling at the rate they are, I will be able to buy another property outright. I am already seeing 1 bed flats drop into my cash purchase range.

chrisandanne

fc123 wrote: »

OP's gone.

Hardly suprising !!.

dopester

chrisandanne wrote: »

Would you rather they were put into a homeless persons hostel at the cost of £400 plus a WEEK.

My mind boggles that some poor bloke who's been chucked out of his job is going to walk into the job centre and encounter YOU.

What's up....seeing your future BTL empire slipping away 'cos the banks won't lend you any MEW money ?. A xxxx

Is that really how much it costs? It was only back in 1997 I got myself a nice clean room, with own key access, double bed, television, well-heated, for £12.50 a night, and cleaned each morning, for a week whilst visiting London. And that included a hearty cooked breakfast in the morning as the woman owned the cafe below. Found it from Loot.

How times change. There is no possible justification in £400 a week.

Zammo

dopester wrote: »

Is that really how much it costs? It was only back in 1997 I got myself a nice clean room, with own key access, double bed, television, well-heated, for £12.50 a night, and cleaned each morning, for a week whilst visiting London. And that included a hearty cooked breakfast in the morning as the woman owned the cafe below. Found it from Loot.

How times change. There is no possible justification in £400 a week.

Especially when you consider that according to the government figures, inflation is still so low.

Must be something to do with Gorgon's miracle economy.

chrisandanne

Zammo wrote: »

If house prices keep falling at the rate they are, I will be able to buy another property outright. I am already seeing 1 bed flats drop into my cash purchase range.

I've said it before Zammo and I'll say it again you are a HYPOCRITE.

And god help your tennants.

I would say I hope YOU never encounter illness but I'M not a hypocrite.

But if you build your BTL empire at least it will rid the job centre of you and that's something to be grateful for. A x

italia

zammo has a complete lack of understanding of the financial markets, underwriting or the gobal market. its made me laugh out loud, he has a blinkered outlook ie hey i can get another house. but he hasn't the intelligence to understand what state the rest of the economy would be in.

the mortgage help isnt there to help individual finanical pain its because the mass repos that would take place will hit the already overstretched banks and the underwriters (freddie may, fannie mac - does zammo own a tv or can he read (newspapers), i think not). zammo has no concept of what would happen if all the banks fail. its not just your average joe thats bought something they cant afford, the banks (hbos, again zammo buy a tv!) have overstretched too.

i think zammo thinks that if someone defaults the mortgage is magically paid off to the bank.... i dont think zammo studied economics. i am sure the one bed flat he wants to own outright is on an island somewhere which will be unaffected by the bank failures (if thinks are left to rot as he would like) and no retailers will go out of business and he will be able to stroll out from a palacious 1 bed flat (haha try aiming higher!!!) to unboarded up high street.

the idea zammo is the government would rather a home owner pay as much as they can off say a 100k loan on something now worth 60k that just let you buy it for 60k at auction and the banks go bust after loosing the other 40k many many times over as this repo happens on mass.

its in your best interests that the institutions dont fall, you just cant see it because you are an uneducated cretin.