Why should we help the liars who are going to get reposessed?

sdooley

Debs12 wrote: »

The bank got to check me out but I did not have the same rights to ask them about there borrowings and future prospects...I feel that NORTHERN ROCK LIED TO ME!!!!!!

Northern Rock, like all other PLCs have always had to provide detailed information on their funding and profitability in their accounts and other public filings. However the information included there would be too much for a normal individual to take in, especially back a couple of years ago when a run on the bank was something which only happened in Mary Poppins.

You're not at fault, but Northern Rock didn't lie to you. They fooled themselves that their business model, based on wholesale deposits, was sustainable. But analysts outside the company had the information and didn't draw that conclusion either. The irony of the move from wholesale bank funding to customer deposits is that banks are now more vulnerable to a bank run (and can lend less).

out_of_cash

domcastro,

with an attitude like yours the planet wouldnt exist neither would economics.

dont go out ,dont go on holidays,dont have kids,dont breathe,

are you single by any chance as i am looking to hook up with a miser a real turn on. "Not"

_Andy_

Why drag up a thread from October?

Navvie

When my wife (of 6 months) and I were looking for a first hour four years ago, the estate agent/mortgage adviser told us to find a house we liked and not look at the price. Whatever it cost, they would find us a mortgage to cover it, even if that meant self certifying our incomes.

I was disgusted at this behaviour! We were adamant we did not want to exceed £125k and passed up the opportunity to buy a lovely house at £145k. In the end we found our house at only £117k. Well within our means and no need to try and cheat the system.

People who have been irresponsible - eg. have self certified and bought the most expensive house they could possible afford should not get government help in my opinion... people who have been responsible and have bought below the maximum mortgage they were offered do deserve help.

Of course, that is a blanket statement and each case should be treated individually, no doubt there are justifiable reasons why some people have self-certified or why they have bought the most expensive house possible.