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DWP mortgage cuts could mean rise in reposessions
Comments
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ultrawomble wrote: »But they're not homeowners are they. They're huge debt owners. If they actually owned their home they wouldn't be in danger of repossession.wherediditallgothen wrote: »Homeowners is a nicer way of putting it than saying 'people who rent from the bank'.
They own their home with a loan obtained from the bank.
Or do you seriously think they can give the bank two month's notice and leave, that they can phone the bank for maintenance issues or that the bank can charge more in rent as the years go by?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
They own their home with a loan obtained from the bank.
Or do you seriously think they can give the bank two month's notice and leave,
Well they can remortgage for a start?
that the bank can charge more in rent as the years go by?
Interest rates.
What about IO mortgages? Are they 'homeowners' too?Set your goals high, and don't stop till you get there.
Bo Jackson0 -
MadnessOfHPC wrote: »Anyone living in their OWN HOME is by definition a HOME OWNer. You see these homeowners have the right to do what they want (such as paint the walls, put up shelves, etc..) in their own home as they are not living in SOMEONE ELSES HOME where permission would have to be sought (which is invariably denied).
sure about this bit in bold, are you?"The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
MadnessOfHPC wrote: »Anyone living in their OWN HOME is by definition a HOME OWNer. You see these homeowners have the right to do what they want (such as paint the walls, put up shelves, etc..) in their own home as they are not living in SOMEONE ELSES HOME where permission would have to be sought (which is invariably denied).
Do you get it now?
Seriously mate, I think you've got a few loose tiles on yours!;)0 -
Could not the header have read, "Those that do not make their mortgage payments in danger of repossesion" or is that not how it generally works any more.0
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MadnessOfHPC wrote: »Anyone living in their OWN HOME is by definition a HOME OWNer. You see these homeowners have the right to do what they want (such as paint the walls, put up shelves, etc..) in their own home as they are not living in SOMEONE ELSES HOME where permission would have to be sought (which is invariably denied).
Do you get it now?
Follow the money. If I'm paying only the interest to the bank, then I am not a home OWNER as my landlord is the BANK. The only differences between a mortgage and renting are that a mortgage will EVENTUALLY enable you to own your own home if you pay it off, and the bank doesn't mind if you paint every ceiling pink.
Do you get it now?Set your goals high, and don't stop till you get there.
Bo Jackson0 -
wherediditallgothen wrote: »Homeowners is a nicer way of putting it than saying 'people who rent from the bank'.
Its great renting from the bank,last time i sold i made a packet towards my next house.
If i was renting i would'nt have had a pot to !!!! in.Official MR B fan club,dont go............................0 -
wherediditallgothen wrote: »Follow the money. If I'm paying only the interest to the bank, then I am not a home OWNER as my landlord is the BANK. The only differences between a mortgage and renting are that a mortgage will EVENTUALLY enable you to own your own home if you pay it off, and the bank doesn't mind if you paint every ceiling pink.
Do you get it now?
and that you get to buy it in 25 years time at today's prices rather than the price it will then be.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
wherediditallgothen wrote: »Follow the money. If I'm paying only the interest to the bank, then I am not a home OWNER as my landlord is the BANK. The only differences between a mortgage and renting are that a mortgage will EVENTUALLY enable you to own your own home if you pay it off, and the bank doesn't mind if you paint every ceiling pink.
Do you get it now?
I hope your LANDLORD has given you a copy of your tenancy agreement and a gas certificate and attends to maintenance issues promptly.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
I hope your LANDLORD has given you a copy of your tenancy agreement and a gas certificate and attends to maintenance issues promptly.
Not if the LANDLORD is the bank. If you have a decent plan for paying off your mortgage then good for you. It's just people who think that they are homeowners purely because they are paying an IO mortgage with nothing to back it up that are a bit silly. That situation is like renting but with none of the benefits.Set your goals high, and don't stop till you get there.
Bo Jackson0
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