BBC 1 'Repossesed - Upsetting To Say The Least!

Mozette

lisyloo wrote: »

What luxury :-) Mine is H.

I have a really rubbish car, but like you will be mortgage free and worry free in a few years.
Well done. You have earnt yourself freedom from worry and a great deal of lifestyle options for a bit of sacrifice.

What luxury! Mine is called 'a bus':D but by god it takes me whever I want to go, I don't have the stress of driving, and it costs around £250 a month less than a car.

Mozette

PasturesNew wrote: »

She said she has panic attacks and anxiety ... I'd be like that if I knew each night I'd have to get into bed with her fat oafish hubby to be honest.

Thanks! This really made me laugh:rotfl:

neverdespairgirl

mb444 wrote: »

What I don’t get is that one of the couple was supposedly paying 11% on their mortgage. What kind of mortgage attracts 11%.

Whatever their circumstances it is clear that the most venerable are being exploited by the lenders..

Wasn't the chap with the 11% loan a mortgage broker?

RobertoMoir

neverdespairgirl wrote: »

Wasn't the chap with the 11% loan a mortgage broker?

Why yes, yes he was.

It's horrifying to watch stuff like this and I'm especially disappointed to see the cameras focussing on the children in these families just for an extra turn of the screw, but I can't honestly get behind the idea that a mortgage advisor doesn't understand mortgages or that the 3rd family who were so desperate to leave something to the kids honestly thought it was a good idea to keep re-mortgaging.

tessie_bear

i thought it was really sad and quite hard to watch.....all those peoples hopes down the pan

lisyloo

What luxury! Mine is called 'a bus':D but by god it takes me whever I want to go, I don't have the stress of driving, and it costs around £250 a month less than a car.

Excellent way to go if you have good public transport but £3K extra sounds like an awful lot just for the extra.
My car costs around £1400 per year total.

I also sometimes get subsidised by my employer (40p per mile) so that's another justification for having a car.
Some years they have paid for 50% of my costs when I've done lots of business travel, so I certainly wouldn't consider it an extravagance.

Getting back to the program I did also notice the plethora of toys, cars, fags. computers etc.
None of them seemed to be living frugally.

_Andy_

lisyloo wrote: »

Getting back to the program I did also notice the plethora of toys, cars, fags. computers etc.
.

Extra kudos for the use of the word 'plethora'

olly300

neverdespairgirl wrote: »

Wasn't the chap with the 11% loan a mortgage broker?

They were the couple with 7 kids including 2 who where the female partner's nieces.

However the thing they did mention on the program about them is that they only started budgeting when they were in dire straits.

How do people bring up 7 kids without budgeting?

MiserlyMartin

Upsetting to say the least? I'm upset that I and our children will have to pay these peoples debts via Gordons bank bailout and record government borrowing to attempt to prop all this up. Not to mention the lost billions of interest savers have lost through stupidly low interest rates.

These people were on a loser from the start. They took on mortgages that they were never ultimately were able to afford in the long term. One of them had an original 40K loan and blew and extra 110K on re-mortgaging, no sympathy. Credit cards and loans too and they still smoked. A mortgage advisor on a 11% deal. He drove a nice car. The man should have knowned better. Who'd get a mortgage from somebody so finanically illiterate!? And the other lot who took out a huge £180K as a car trader and did not think about what might happen when their fixed rate ran out. That must have been a liar loan. They all seemed to have nice plasma TVs too all over the house. Trust the BBC to put this out in the light it did.

Phatmouse

I saw it, the man souting down the phone was shouting at the council because they had 3 months to find him somewhere to live and it was 9am on the day of eviction.

What i'm wondering is what the hell did he do for 3 months, maybe if he had got off his fat !!!! and found himself somewhere to live he might not have had to live in a caravan with his poor kids.

The ones who took on the house at 44k but now owed 150k due to borrowing to do it up, they could have lived within their means and improved their house over a period of time, rather than wanting it all done at once, she said she wanted to give her kids more than she had. try a book some quality time and the security of a roof over their heads, personally I have never met a five year old who's life has been improved by a shiney kitchen. Her husband had 2 jobs, what was this woman doing all day !!!!!!.

The other one was just a loser, get out that energy sapping office and get a job that brings in real money, you have SEVEN kids. That poor sausage making woman wants to give he a slap and quick.

I am not a cow but these examples make a mockery of the people who are doing all they can to keep their heads above water instead of just expecting help because they made rubbish choices.