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Debate House Prices
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Support for mortgage interest benefit cut by thousands of pounds
Comments
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the link you supply is rubbish as it includes low fixed rate and trackers,its not a representation of svr`s in general,the 45,000 figure assumes that 20% of those on SMI will have to sell a figure that is borne out by posts all over the internet,and perhaps you have a link to show that those over 60 have a large amount of equity?they are just as likely to have large mortgages.
the last tory govt "gaveaway"large chunks of social housing btw
It includes all mortgage products.
Are you suggesting that ALL those on SMI are on SVR products? None are on trackers or fixes?
Bit of an assumption isn't it?
As for the over 60's, only way they can have large mortgages still is if they have repeatedly remortgaged and released equity. It's highly unlikely lenders would have lent large amounts on a mortgage to someone over 50.0 -
Graham_Devon wrote: »It includes all mortgage products.
Are you suggesting that ALL those on SMI are on SVR products? None are on trackers or fixes?
Bit of an assumption isn't it?
As for the over 60's, only way they can have large mortgages still is if they have repeatedly remortgaged and released equity. It's highly unlikely lenders would have lent large amounts on a mortgage to someone over 50.
the VAST majority of those getting SMI are on SVR`s the govts own figures admit that at least
i think the argument about the over 60`s is abit of a smokescreen as even someone with an outstanding mortgage of 30k will have to find another £50 a month from yesterday,and of course there are people of all ages who have been on long term benefits(sick/disabled and unemployed)whos outstanding mortgage will be well above 30k
wether you or others chose to believe it or not this is yet another timebomb waiting to explode all over this slimey govt.0 -
So, if you cannot afford to pay for your house, you may have to move. What is the problem.0
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So, if you cannot afford to pay for your house, you may have to move. What is the problem.
In case you hadn't noticed, selling a home at the moment takes months. Plus, if you are in negative equity you can't sell.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 don't get this.
On all mortgage apps it says "your home is at risk if you do not keep up the payments", does that not apply any more?0 -
I don't get this.
On all mortgage apps it says "your home is at risk if you do not keep up the payments", does that not apply any more?
Yes it applies, you can get some government help in the form of SMI to help you make those payments.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 -
People relying on SMI have something in common with priced out FTBs - neither can afford to buy a house.
why should one group be favoured over another?"The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
I don't get this.
On all mortgage apps it says "your home is at risk if you do not keep up the payments", does that not apply any more?
why should it apply if someone suddenly finds they are too sick to work,or lose their jobs in an area of high unemployment?
this is the uk still one of the worlds richest nations,we have a welfare state to which we all pay into when able to,not some 3rd world african dump0 -
People relying on SMI have something in common with priced out FTBs - neither can afford to buy a house.
why should one group be favoured over another?
why should one group have to give up a home they may have spent years putting together?
abolish smi and you would have to build 200,000 new social housing,then let them out totally rent free
so smi or a bill for billion....you decide.0
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