Surveyors & Lendors Deliberately Under Valuing Property

bluey890

ad9898 wrote: »

Just an anecdote, I've always thought the term homeowner to be a slightly spurious term when used in the context of people who have mortgages. They don't own their own home, the bank does, along with the deeds.

Wow, for once I agree. Perhaps because it's a reasoned statement rather than your usual rose-tinted glasses viewpoint.
We all know that once you eventually buy, you'll be spouting rubbish like house prices can only go up.

edit: Dan has now corrected Ad, I should have realised that agreeing with Ad meant I was wrong.

Dan:_4

ad9898 wrote: »

Just an anecdote, I've always thought the term homeowner to be a slightly spurious term when used in the context of people who have mortgages. They don't own their own home, the bank does, along with the deeds.

The property is used as security if you fail to keep up the mortgage repayments, this does not mean the bank 'owns' your house.

I have the deeds to my house.

ad9898_3

Dan: wrote: »

The property is used as security if you fail to keep up the mortgage repayments

I don't want to go on about this but wouldn't that very statement mean you don't own it ?, you are paying for it over a period of time, until you have made all the payments, the bank reserve the right to take it off you if you don't make those payments.

Someone who owns outright does not have a bank demanding payments because they own it, hence they are a homeowner.

Dan:_4

ad9898 wrote: »

I don't want to go on about this but wouldn't that very statement mean you don't own it ?, you are paying for it over a period of time, until you have made all the payments, the bank reserve the right to take it off you if you don't make those payments.

Someone who owns outright does not have a bank demanding payments because they own it, hence they are a homeowner.

No. I own my house, not the bank. They do not have the right to visit the property / inspect the property / kick me out / ensure the upkeep etc...

If the bank forecloses on the loan and I am unable to settle the balance, then a court order can transfer ownership to the bank (as it is a secured loan).

Cleaver

Dan, Ad, stop arguing. I've looked up the definition of 'homeowner' for you:

Of, relating to, or having a sexual orientation to persons of the same sex.

Hope that helps.

ad9898_3

Cleaver wrote: »

Dan, Ad, stop arguing. I've looked up the definition of 'homeowner' for you:

Of, relating to, or having a sexual orientation to persons of the same sex.

Hope that helps.

Ah, thanks Cleaver, it's unsuprising then that 'homeowning' isn't my cup of tea.

Just to edit....... I've just had a thought, why would I want to be a 'homeowner' in the future then ?...... this is worrying me as I'm not into sucking chodes now, and am pretty sure I won't ever want to...... a paradox that I may have to seek help with.

bluey890

Cleaver wrote: »

Dan, Ad, stop arguing. I've looked up the definition of 'homeowner' for you:

Of, relating to, or having a sexual orientation to persons of the same sex.

Hope that helps.

I tactfully point out that you may have your browser windows mixed up.

ManAtHome

Dan: wrote: »

I have the deeds to my house.

I didn't get the deeds to mine until I'd paid off the mortgage - have times changed?

Dan:_4

ManAtHome wrote: »

I didn't get the deeds to mine until I'd paid off the mortgage - have times changed?

I don't know. My solicitor sent them about 3 months after the purchase.

Thrugelmir

ManAtHome wrote: »

I didn't get the deeds to mine until I'd paid off the mortgage - have times changed?

My thought too......