need mortgage for council right to buy

bear1969

not just that leveller im getting a bit sick of having to take a barrow load of money down to the shops just to buy a loaf of bread ,think it was shows on sky tv that made people pay stupid prices for houses and now you see most of them on here crying cause they cant afford to pay there mortgage ,credit cards etc ,well well life goes on ,heres hopeing banks will continue to refuse mortgages so we can run out of buyers, houses drop to realistic prices ,and labour lose the next election

jazzyjustlaw

Not sure why people are having a go about OP living in LA housing when he asked for help on finding a mortgage. They are having difficulty obtaining a mortgage on that property so how the hell are they supposed to buy something else.

However, not sure who would give you a mortgage OP but to the rest no matter what you earn the reason why its easier to by an LA property is the discount is used as the deposit so no or little deposit is needed.

leveller2911

Chap I know Bear, had a 1 bedroom house he re-mortgaged twice to fund trips abroad(No equity at all).Then 18 months ago be brought a detached house with a £235K interest only mortgage and thousands on CC,s.He has no savings plan in place to pay off the morgtage and is relying on HPI to "move up" .He works 2 days a week at most and God know why they leant him the money.
The problem is we are all gonna need to pay for his/banks !!!!lessness and its wrong.
We need more housing so My suggestion would be build houses for FTB,s NO 5 bedrooms detached allowed at all.Put covenants on the houses that they are allowed a "Maximum" profit on the house when/if they ever sell the property.It most peoples dream to own their own home and stamp their identity on it but its been seen far too often as a profit tool.This is partly the fault again of governments for raiding pension funds and the total lack of trust the electorate has in them to keep their greasy mits off of peoples hard earned savings.

Nu Labour have been as bad if not worse than the Tories were.I for one hate party politics full stop and won't be sad to see the end of Labour ,even if it does mean the Tories again Ho Hum ......

leveller2911

jazzyjustlaw wrote: »

Not sure why people are having a go about OP living in LA housing when he asked for help on finding a mortgage. They are having difficulty obtaining a mortgage on that property so how the hell are they supposed to buy something else.

However, not sure who would give you a mortgage OP but to the rest no matter what you earn the reason why its easier to by an LA property is the discount is used as the deposit so no or little deposit is needed.[/QUOTE]


And thats part of the problem, if youve had to work your nuts off to save for a deposit you would be more financially astute rather than someone who's "given it on a plate".Ive known a few people who have done this and 2 yrs down the line repossessed due to being bad with finance.

bear1969

hmm works 2 days a week eh how the other half live lol ,wish i could do that but no i have to spend two weeks stuck in the middle of the north sea then when i get home i work for a shipping company welding containers etc ,all just so we can have an easy life with savings and holidays to france to visit wifes parents ,might move there ourselves ,but seems to be getting just as exspensive with the euro ,got in my new tax codes from inland revnue and surprise surprise 40% tax bummer, i was thinking of voting for the green party next as they cant be any worse than the ones we have had

leveller2911

My wifes uncle has lived in the mountains in southern Spain for 20 yrs and they are saying things are very,very ,very bad.They were even contemplating moving back here,but the trouble is they couldn't afford a house back here and wouldn't qualify for HA housing which is quite right.They will probably stay there and try and stick it out till the upturn comes.


To the OP am I right in thinking defaults stay on your credit file for 7 yrs? of can you ask for them to be removed as they were settled?

Money_mad_4

I think that this guy has explained his predicament. He has CCJ's that means he hasnt exactly had it rosey, He has also explained that he can't get a mortgage and so he's stuck as a council tenant. What is he supposed to do, live on the streets? Look at some of the comments, Capitolism is what has ruined this country, the rich get richer and the poor get poorer and the middle earners who work for a living get shafted

leveller2911

Capitalism isn't the perfect model by any means, flawed is an understatement but whats the solution?.

Very off topic this but the rich will always make money.One problem is Nu Labours fixation with the "Poor" relying on the state more and more by Tax Credits etc.The rich employer will always keep his/her wages bill down for profit reasons whilst knowing the poor old taxpayer will bump up their income through the system.Low aspirations of the "Serial doleites" is another problem.Something like 1.2 million people in this country have "Never" worked since Labour got in which is totally shocking,that together with more children leaving school unable to grasp the basic 3rs is compounding the problem.

Regarding the OP Money mad, he earns ,relative to house prices for his area and damn good wage and if he has some gumption he will spend the next 2-3 yrs working and saving hard and buy outright,poeple would kill to be in his position.His defaults on his credit file may or may not be down to bad luck or !!!!lessness and as this is cyber space we will never know the truth,most of us can give a sob story if we choose to.

bear1969

i agree with you money mad , it is obvious that the ones who have posted here about council tennants are the ones who were stupid enough to go out and pay a fortune for houses that were not worth the money they paid for them and now are most likely in negative equity bummer but you have to look after the pennies and the pounds take care of themselves ,I would like nothing more than to buy our own house that we could make our home and not just sell it on in a couple of years to make a massive profit out of ordinary working people ,and the joneses round here dont take much keeping up with lol

Money_mad_4

I agree in principle with the last two commentators, In particular this government has gone too far with bennefits, there are no incentives to work in this country because like the many of us middle earners are paying through the nose to keep millions. I also have to point out that I sympathise with those who want to work but cant. My god what a mess we are in