Rent back deals 'need firm rules'

northeast1976

geoffky wrote: »

Maggots And Leeches Come To Mind,,pure Scum...there Are Ways To Earn A Living And Yours Is Despicable...modern Day Grave Robbers.

Thankyou for the PM Eightball or should i be thanking myself HAHAHAHAHA!! I had no idea what you were on about.........when you said GDB222 this n that and then it clicked i wont repeat what you said in the PM hahaha but i totally agree hahaha

Although this did make me laugh i was also disapointed and i will be deleting my membership................this site is just full of far left wing preaching penny pinching nobodys who think there someone.........and are NOT and they are all blaming someone body else for there own mistakes........sad really........but look at the evidence ie the posts

i got repoed to day as i took out a mortgage that was to expensive for me...........shame! your fault but yet they come on here cry blaming banks brokers etc when again its there fault THEY SIGNED THE PAPER WORK no sympathy

im claiming back bank charges.........what a classic.......if they ran there account correctly they wouldnt have been charged in the first place again no sympathy

im claiming back mppi ........what again your fault for signing the paper work .........theres this thing called reading..........do it.........i only ever took out 2 loans way back when both were offered with mppi but after reading and doing my homework i found out that for certain reasons i had a 90% chance of claming so i didnt take it..........but yet on here people are blaming the banks brokers etc YET YOU SIGNED WHY DIDNT YOU READ IT........i will tell you why to eager to get your hands on the money instead of waiting an extra day to read the paper work from front to cover

the list goes on & on, sad sad sad

you people should take responsibility for you actions and except it and i think that sumes up 95% on the people on here sorry to the other genuine 5%

if people spent more time reading there contracts than they did coming on here.......this site probably wouldnt exsist

ive just come back from a month in oz and off for a further 5 months break to miami......so enjoy your penny pinching selves.......i WONT be thinking of you while i sun myself or get privatly flown around.......i forgot to tell you GBD222 Ive brought my retirement forward as the way the last few months have been and the way this year is going to be, my company without advertising has signed up 17 this month alone

Eightball ive sent you a PM i would ditch this site your just wasting your breath just let them fail and i will buy there house later down the line

GEOFFKY another narrow minded knob you just stick to packing gerkins actually put ya gerkins to one side for a minute as i am sure everyone would like to know what you would do for this lady take ya time READ the posts thereS enough info here to make an informed decision oh and shes 48 years old by the way...........come on then tell every one WHAT WOULD YOU DO FOR HER OR ADVISE HER TO DO THEN ?? MMMMMMMMMMMMMMM WAITING..................... DONT TELL ME CLAIM HER BANK CHARGES BACK CLAIM HER PPI BACK BLAME EVERY ONE ELSE SUCH AS HER LENDER BROKER BANK ETC GIVE US A FULL BREAK DOWN ON WHAT YOU WOULD DO FOR HER AND HOW AND WHY

FYI she is all sorted now and in her words the happiest she has ever been no more worries, the new bathroom is great and the new windows the house has never been so warm and she stated she would recommend me in a heart beat.......oooow bet that stings to hear that GDB222 ......she actually bought me a bottle of whisky FOR THE TIME SPENT HELPING AND EXPLAINING IE READING THE PAPER WORK TO HER AND MAKING SURE SHE UNDERSTANDS WHAT SHES DOING OH AND HER SISTER AND MOTHER WERE BOTH THERE WHILE SHE SIGNED AND I EXPLAINED WHAT WAS GOING TO HAPPEN.........IN THERE WORDS VERY PROFESSIONAL AND A RELEIF TO HAVE SOME ONE SO HONEST ABOUT WHAT THEY DOING AS WE DIDNT HAVE A CLUE AND THOUGHT SHE WAS SIGNING HER LIFE AWAY AND WHERE AGAINST IT AT FIRST BUT NOW WE HAVE SEEN IT AND HOW YOU WORK WE ARE CONSIDERING DOING IT ARE SELF...............OOOOW ANOTHER BLOW TO GDB222

COME ON GEOFFKY..................................WELL!!

GDB2222

eightball wrote: »

whos been reading the SHIP website your stating the obvious,i AM NOT WRONG ABOUT THE 50% by 50% in her case you have to read it in context. The mortgage is £40k property valued @ 80k no lender will touch her with out at least £50,000 clear equity in the property

(JUST TO CLARIFY WHEN I WAS TALKING ABOUT 50% IT WAS MEANT IN THIS CASE, WITH A CURRENT MORTGAGE OF 40K AND PROPERTY WORTH 80K JUST INCASE PEOPLE THINK IT IS ONLY 50% ACROSS THE BOARD IF YOU WANT MORE INFO PLEASE ASK YOUR IFA FOR A PERSONALISED KFI KEY FACTS ILLUSTRATION)

Example property worth £80,000 shes aged 65 in good health (you can go down to 55 but that is done on a case by case basis by the lender) the max she could get back would be £33,137.60 Not enough to cover her mortgage:rolleyes:

The info dosent state her age so if she Is under 55 she will not get either a life time mortgage or reversion plan, But the info does state that she is not 65 so im guessing she is not older than 65 but younger in which case she will be eligable for a lot less then £33,137.60 as the younger she is the less she would get
if she was 66 she would get £34077.60
if she was 67 she would get £35012.80
and so on and so on

The short of it is NO she cannot use any form of equity release product

Except SARB (SELL & RENT BACK)

What is it with your fascination with me being northeast? i can assure I am NOT he/she i am guessing northeast means they live in the northeast i live in leicester
is it beacuse noone normaly questions your bad advice since your an old dog on here and think you rule the roost but do not:p not to shock you but just because you have been on here a long long time does not mean you know the most or are right:eek:

I have been dealing with reversions in my professional capacity since the early 1980's. Of course I know about SHIP without looking it up.

As one option for investigating, I suggested an outright sale of the reversionary interest, which can fetch up to around 75%, depending on age and health of the vendor, but likely to be enough to pay off the mortgage (which would be necessary of course) and then leave the lady with a lifetime lease for no rent.

SARB as practised by Northeast does not give security of tenure, at all, and the lady has to pay the market rent. In fact, SARB as practised by northeast is just an excuse more or less to rob the vulnerable. In particular, he stated that he encouraged this lady to think that she was just about to be evicted, whereas that was not a very likely outcome of the hearing.

Financially the best course for this lady would have been to sell her property at full market value, pay off her mortgage, move out and pocket the difference. The court would have given her time for that. She could then rent locally - maybe even the same house.

Amazing coincidence that you and northeast turn up at the same time on the same thread, now, isn't it? Both mortgage brokers, apparently. Amazing.

northeast1976

GDB2222 wrote: »

I have been dealing with reversions in my professional capacity since the early 1980's. Of course I know about SHIP without looking it up.

As one option for investigating, I suggested an outright sale of the reversionary interest, which can fetch up to around 75%, depending on age and health of the vendor, but likely to be enough to pay off the mortgage (which would be necessary of course) and then leave the lady with a lifetime lease for no rent.

SARB as practised by Northeast does not give security of tenure, at all, and the lady has to pay the market rent. In fact, SARB as practised by northeast is just an excuse more or less to rob the vulnerable. In particular, he stated that he encouraged this lady to think that she was just about to be evicted, whereas that was not a very likely outcome of the hearing.

Financially the best course for this lady would have been to sell her property at full market value, pay off her mortgage, move out and pocket the difference. The court would have given her time for that. She could then rent locally - maybe even the same house.

Amazing coincidence that you and northeast turn up at the same time on the same thread, now, isn't it? Both mortgage brokers, apparently. Amazing.

HAHAHA I WAS JUST ABOUT TO LOG OFF THEN I SEE ME OLD C0CK!!!! GDB222
WHAT A LOAD OF BOLLOX READ THE POSTS AGAIN I THINK YOU HAVE GONE RUSTY THE PARAGRAPH STARTING "FINANCIALLY" SHE COULD NOT DO ANY OF THESE, DID YOU NOT GET IT LAST TIME, READ THE POSTS AGAIN

AS YOU DO NOTHING ALL DAY BUT PLAY ON HERE .........GO TO A COURT AND I THINK YOU WILL FIND YOU ARE WRONG AGAIN YOU ARE COMMENTING ON SOMTHING YOU KNOW NOTHING ABOUT AGAIN...........WHY DONT YOU ANSWER THE QUESTIONS I ASKED YOU FROM THE LAST TIME I WAS ON HERE A FEW MONTHS BACK........?

OH AND GDB222 READ MY LAST POST SHE IS 48 I DONT KNOW MUCH ABOUT REVERSION PLANS BUT WHAT I DO KNOW IS YOU CANNOT TAKE ONE UNTILL AGED 55


GDB222 ARE YOU GEOFFKY? FUNNY HOW YOU ARE BOTH POSTING ON HERE AT THE SAME TIME......................

GDB2222

HAHAHA I WAS JUST ABOUT TO LOG OFF THEN I SEE ME OLD C0CK!!!! GDB222

Don't let me delay you. Bye.

northeast1976

GDB2222 wrote: »

Don't let me delay you. Bye.

Is that it..............weak ........very weak

Come on then ........answer my questions from the 3 posts ago i beleive, well the last time i was on here months ago........whats your reply or are going to circle the wagons again
let me give you some advice dont advise on things you know NOTHING about as you on the sarb topic you clearly DONT

GDB2222

northeast1976 wrote: »

Is that it..............weak ........very weak

Come on then ........answer my questions from the 3 posts ago i beleive, well the last time i was on here months ago........whats your reply or are going to circle the wagons again
let me give you some advice dont advise on things you know NOTHING about as you on the sarb topic you clearly DONT

Nope, I won't!

Die, thread, die, and take the nasty, evil Northeast and his sock puppet with you!

northeast1976

GDB2222 wrote: »

Nope, I won't!

Die, thread, die, and take the nasty, evil Northeast and his sock puppet with you!

Hahahaha wubber wubber arrrh poor LITTLE GDB222 Whats a matter gutted that you have been proved wrong and shown for your true colours that you dont know any thing about SARB, have i broken your trend for 5 years of rubbish opinons/advice

In future stick to somthing you actually know about in stead of what you think you know about i Think EIGHTBALL'S last post sumed you up very well

I think you should put your signature in bold and red writing even have it flashing but as said before people dont read on here they just want to blame others for there mistakes i suppose your lucky people havent tried to sue you for BAD advice hahahahahhahahahahahahaha!!! hahhahahahahahahahaah!!!