One million homes face Interest-only remortgage threat

Really2

Graham_Devon wrote: »

confused of Devon.

But yesterday you said.

Graham_Devon wrote: »

I'm out.

I can't keep up.

Graham_Devon

Really2 wrote: »

But yesterday you said.

I can't keep up.

And this is why I am so confused.

Can never fathom out !!!!!! he is saying or means.

Really2

Graham_Devon wrote: »

And this is why I am so confused.

Can never fathom out !!!!!! he is saying or means.

You don't do double entendre do you GD.

chucky

DervProf wrote: »

Phew !

chucky has gone. I really was worried there.

you must have been worried... that's about 8 posts asking me where i have accused you... as i've said to your before - it's only t'internet world, it does i really matter...

DervProf wrote: »

I`ll be back later to see if he has bothered to backtrack on his backtracking accusation. :eek:

as i said on a different thread you're quite good at trying to 'confuse' the discussion so as to avoid the actual topic under discussion. you seem to have done this with our Graham the master of the Chewbacca discussion technique...

RenovationMan

Graham_Devon wrote: »

And this is why I am so confused.

Can never fathom out !!!!!! he is saying or means.

Im confused because I havent a clue what you guys are now talking about! All discussion about Interest Only mortgages seemed to have ended pages and pages ago. Ive no idea what the discussion has now moved onto.

Graham_Devon

Really2 wrote: »

You don't do double entendre do you GD.

No. I've never even heard of her.

JonnyBravo

Graham_Devon wrote: »

No. I've never even heard of her.

:roll eyes:

You've not knocked another bird up have you GD?

DervProf

chucky wrote: »

you must have been worried... that's about 8 posts asking me where i have accused you... as i've said to your before - it's only t'internet world, it does i really matter...


as i said on a different thread you're quite good at trying to 'confuse' the discussion so as to avoid the actual topic under discussion. you seem to have done this with our Graham the master of the Chewbacca discussion technique...

If you`ve read post #125, you might just realise the error of you ways. I`m trying not to confuse anyone. I`m simply putting you right on something you incorrectly posted about me.

I suggest that if you want to make it appear that I am here just to confuse the discussions, then simply carry on typing before you`ve thought about what you are about to type. If you post reasonably accurate observations about me, I think you`ll find that I will discuss my opinions and the subject matter quite well. I have strong opinions on the subject of the property market, and I am willing to debate them with anyone. I`m also up for a spot of banter and humour. As you say, it is only a tinternet forum, but we are discussing fairly important subjects, so making sure we post reasonably accurate information and opinions of others is a good idea (apart from when we`re obviously taking the P).

I shall now put aside my request for you to backup your claim that I avoid the topic under discussion, as I don`t think you can really provide much evidence to prove your point, but I do expect you to come back with "see, you`re doing it again".

Maybe this will help.

I`ve always thought that IO mortgages were just another financial "trick" to help promote HPI, or at least to keep the "wheels greased". In my day, it was repayment or IO with an investment vehicle to pay off the capital at the end of the mortgage term, which was often an endowment policy. We know what happened to endowments, and for that matter a lot of pension funds. Endowments were gradually phased out as repayment plans, and a lot of pension plans were replaced by property investment.

Now I`m not sure about this, because it`s been a long while since I dealt with a mortgage advisor, but I remember having to carry out some sort of check on my finances to make sure I was in a position to afford a mortgage. It was fairly detailed in terms of income and outgoings. At the time, I don`t think I could have taken out a purely IO mortgage. I`d like to know if lenders still carry out affordability checks, and if they do, do they lend a little more if the borrower is going to take an IO mortgage, due to the lower repayments ?

Another thing about IO mortgages is the LTV factor. If property values were not to rise for a while, or actually fall (calm down at the back, it`s only a suggestion), then someone with and IO mortgage may sooner breach the LTV conditions of their mortgage, or do the banks not worry about such matters any more ?

The_White_Horse

why the hell are the govt paying people's mortgages for them?????

DervProf

The_White_Horse wrote: »

why the hell are the govt paying people's mortgages for them?????

They`re not. It`s the taxpayer who`s dishing the dosh.

The last thing the taxpayer needs at this moment is a house price crash, having invested quite a lot of money into mortgage lenders such as HBoS, Northern Rock etc. One way of preventing an increase in the number of properties coming onto the market (and therefore a pssible fall in property prices) is to prevent repo`s. The other headache for the government and taxpayer is where do you house those who have been repo`d.


Maybe that`s why.