Nothern Rock!

k2nga

I have been reading with interest the news this morning that Northern Rock is repossessing nearly twice as many homes than any other bank. So while Gorden Brown is telling us he is trying to get people to help those most worst off by the credit crunch the bank under the governments control is the most aggressive by far.

I also believe when i applied for an IVA before having to take the BR route that Northern Rock will never accept an IVA if they are the biggest creditor or given the chance to stop an IVA helping people.

This really got my back up this morning as Northern Rock was one of the reason BR happened to me so i have emailed Sky News this morning as they seem to be leading the story to tell them about the IVA situation.

Has anybody else on hear heard this or had the same problem with them?

fermi

Apparently they are happy to sit on a stock of 4,000 (ish) empty houses that they have repossessed, rather than come to some reasonable arrangement that would allow people to stay in their homes.

When there is (supposedly) a shortage of affordable housing that is pretty inexcusable.:rolleyes:

blind-as-a-bat_2

Hmmm stock of 4,000 (ish) empty houses, now owned (sort of) by the goverment who needs social (council) housing desperatly, could this not be used to re home the now homeless?


But im sure its not that simple:rolleyes:

And i agree it does seem daft putting someone on the street, to be to told there is no council property's when its the goverment that is (sort of) made them homeless

maxmycardagain

you dont think the bailouts of lenders and banks has been done for reasons of helping the hard up/welfare cases do you?

a lot of those houses are on nice sites, can you see the council placing snotty, chav, asbo, vickie pollard, druggie, wrecked car dealing, giro-grabbers into them?.....

be as welcome as fleas in a plaster cast

blind-as-a-bat_2

maxmycardagain wrote: »

you dont think the bailouts of lenders and banks has been done for reasons of helping the hard up/welfare cases do you?

a lot of those houses are on nice sites, can you see the council placing snotty, chav, asbo, vickie pollard, druggie, wrecked car dealing, giro-grabbers into them?.....

be as welcome as fleas in a plaster cast

Yes, thats just what they did where we live, only they built an entire council estate in the middle of the type of houseing you describe, then filled it with a majoraty of the types you describe, this started back in the 1970's.

Dont get me wrong there are pockets of good folk that live on that estate too, but they are dwindling because of the troubles. They are replaced by those that cant be housed anywhere else so it gets worse year on year.

But the fact remains there are a lot of normal folk want houseing too Max, stereotyping all of them is why they would be as welcome as fleas in a plaster cast.

A lot of the private houses on the 'better estates' round here are being rented now, and its not brought any problems, It would just need tight vetting procedures to work

But it wouldnt happen anyway so is academic, for financial reasons, or the reasons you state, as that would be exactly the reaction round here, but when they are private lets, no one bats an eyelid

shadowdragon

councils have mixed private and rented homes together for a number of years.

What they should do is transfer the stock over to the local council/HA control for renting out, then the income from the rents could be split between the government and HA. It would at least recoup some of the cost of bailing NR out.

Easy solution but because there wont be any backhanders available to the politicians things like that wont happen.

maxmycardagain

i could quote you chapter and verse on the pros/cons of so-called "social housing"

the main problem is giving problem families/single-parents/etc full-on 100% legally protected assured tenancies

these people do not know how to behave, to decscribe them as "feral" is to do wild animals a dis-service, most animals dont c.rap in thier own nests, LA housing managers only take action when they know they have a legally binding case aginst then riffraff which usually requires normal folk to suffer years of abuse.

give new tenants a rolling 3 month probationary tenancy for 2 years i say, any complaints and bye bye............easy int it

maxmycardagain

shadowdragon wrote: »

councils have mixed private and rented homes together for a number of years.

What they should do is transfer the stock over to the local council/HA control for renting out, then the income from the rents could be split between the government and HA. It would at least recoup some of the cost of bailing NR out.

Easy solution but because there wont be any backhanders available to the politicians things like that wont happen.

councils do not want stock while teanants have a right to buy, the house gets sold, the money goes south (literally) - or north from a few areas - into central funds.

sclyates

:eek: we had the same problem with NR not allowing us to get an IVa as we owed them the most money. we have a "together" mortgage with them which a couple of years ago they virtually threw at us. we have really struggled over the past 2 years to keep our heads above water and have made sure each month that we have paid the full amount on the actual mortgage payments but not the full amount onthe payment to tthe loan only to find that the unsecured part of the loan being charged to the property and a court order for us to pay a reduced asmmount off the loan NR have been taking monry out of our mortgae payments to make up the shortfall on the loan!!!!!!!!!!!!!!!!
anyway with the loan being secured against the hjouse that hasd now put us into negative equity and i have now gone bankrupt

MSE_Jenny

Hi folks

Five News is doing a story about Northern Rock repossessing a far higher number of houses than the other lenders.

They would love to interview a MoneySaver who has been personally affected. They would like to arrange a pre-recorded interview with them today.

Whilst the areas around London or Newcastle would work – if someone else in another area who will talk about it, then they can try and make that work.

If you’d like to share how you’re affected, please call Emma on 020 7800 2736 or 0797 417 6628.

viccig

I was speaking to a young girl the other day who is facing having her home repossesed by Northern Rock.

They had given her a five year fixed 130% mortgage :eek:
Once her fixed rate expired she obviously couldn't afford the massive jump in payments that today's rates are offering. So in negative equity and unable to pay up the lovely NR are claiming back what is theirs, yes very naive of her to take out such a mortgage, but how irresponsible of Northern Rock to lend a young family that kind of money!