Latest Housing Stats.....

chucky

nearlynew wrote: »

Whatever the reason, if they can't afford the payments over the term of the mortgage this still means that they cannot afford to buy their house.

no - spending on items which are not priority is what skews the affordability. the car loans, the four holidays a year, the plasma tv etc...

Dan:_4

nearlynew wrote: »

Whatever the reason, if they can't afford the payments over the term of the mortgage this still means that they cannot afford to buy their house.

Get with it Nearlynew,

Redundancy; divoice and illness are are serious factors that can end in repossession, how can any of these factors be predicted at the start of the mortgage term?

nearlynew

Dan: wrote: »

Get with it Nearlynew,

Redundancy; divoice and illness are are serious factors that can end in repossession, how can any of these factors be predicted at the start of the mortgage term?

That's life.
!!!!!! happens.

Just like rampant HPI happens and prevents people from buying their home because they were born too late.

You say some people will never own their own home and that this has always been the case.
Yet people who can't pay their mortgage should be helped to buy their home.

I don't understand why you consider one situation OK and the other not.

chucky

nearlynew wrote: »

Yet people who can't pay their mortgage should be helped to buy their home.

I don't understand why you consider one situation OK and the other not.

because i have a consience and don't believe that people should be thrown out of their homes and should be helped through the difficult and emotional time of repossession. i've never been in that situation and have great sympathy for people in that situation regardless of the causes.

if you believe that people should get repossessed - good for you. sorry but i don't agree with you.

nearlynew

Fair enough.

I'm off to make a contribution to my local inn-keeper's pension fund.

See you later

orangefender

chucky wrote: »

because i have a consience and don't believe that people should be thrown out of their homes and should be helped through the difficult and emotional time of repossession. i've never been in that situation and have great sympathy for people in that situation regardless of the causes.

if you believe that people should get repossessed - good for you. sorry but i don't agree with you.

What a ridiculous statement. It has nothing to do with conscience. Banks need to able to repossess and exercise their power of sale where a borrower is unable to repay. It underpins the whole mortgage market. Would you lend someone three times their salary without taking security?

chucky

orangefender wrote: »

What a ridiculous statement. It has nothing to do with conscience. Banks need to able to repossess and exercise their power of sale where a borrower is unable to repay. It underpins the whole mortgage market. Would you lend someone three times their salary without taking security?

nope - but you should have read the posts before you jumped in.

just to repeat myself affording to buy and affording to repay your mortgage are different things. affordability of your mortgage is determined by your affordability to buy.

orangefender

chucky wrote: »

nope - but you should have read the posts before you jumped in.

just to repeat myself affording to buy and affording to repay your mortgage are different things. affordability of your mortgage is determined by your affordability to buy.

That goes without saying, but banks need the right to sell if the borrower can no longer repay. Whatever the circumstances.

nearlynew

chucky wrote: »

just to repeat myself affording to buy and affording to repay your mortgage are different things. affordability of your mortgage is determined by your affordability to buy.

But many people who have been deemed able to afford to "buy" have only done so through financial trickery and under "normal" cicumstances would not have been allowed to buy in the first place.

It is only now that they are exposed.

chucky

nearlynew wrote: »

But many people who have been deemed able to afford to "buy" have only done so through financial trickery and under "normal" cicumstances would not have been allowed to buy in the first place.

It is only now that they are exposed.

nobody has denied this - it happened and will always happen