FTB Discrimination "incredibly unfair", now pay thousands more for mortgages

neverdespairgirl

That mortgage broker doesn't understand what discrimination actually means.

Discrimination relates either to things that can't be changed (race, sex, age) or things which are fundamental to a person's being (religion).

It doesn't relate to the amount of money in a bank account.

HAMISH_MCTAVISH

Graham_Devon wrote: »

waffle.

Sorry Graham, in all that waffling, I couldn't quite make out what your stance was on most potential FTB's being forced to pay many thousands of pounds a year more than those with a bigger deposit.

You do or do not support FTB's being ripped off by the banks?

Graham_Devon

HAMISH_MCTAVISH wrote: »

Sorry Graham, in all that waffling, I couldn't quite make out what your stance was on most potential FTB's being forced to pay many thousands of pounds a year more than those with a bigger deposit.

You do or do not support FTB's being ripped off by the banks?

And theres one stuck puppy

DervProf

What we are getting from Hamish is "those nasty banks are making too much margin on the money they are lending out".

What we also hear from Hamish is that he is more than happy to see the value of his own property(s) go up. So the banks shouldn`t be making so much profit, but it`s OK for him to.

I think what it boils down to, is that Hamish doesn`t want the banks charging their customers too much for their mortgages, as it will limit the profit he makes on his property.

It`s a real contradiction that he welcomes HPI (:beer:) every time there`s a report of property price increasing, yet he suddenly feels sorry that FTB`s will have to pay so much for their mortgage every month (it`s all the bank`s fault, nothing to do with the high property prices that he so openly celebrates).

nearlynew

junkies don't think straight.


all they care about is their next fix.

DervProf

HAMISH_MCTAVISH wrote: »

Sorry Graham, in all that waffling, I couldn't quite make out what your stance was on most potential FTB's being forced to pay many thousands of pounds a year more than those with a bigger deposit.

You do or do not support FTB's being ripped off by the banks?

Nobody want`s to see the banks ripping off anyone. Are the banks not getting back some of the money that they so willingly dished out during the boom ? I believe this is called recapitalising ?

I would have preferred the banks to have not been so generous over the past decade. I said at the time that it would all go wrong, and it did. I didn`t hear many complaints when they were lending like crazy. Some of us did however think that there would be a price to pay, and FTB`s are being asked to pay it.

Many bulls tell me that there is a shortage of property. If this is true, then I`m finding it hard to understand why you are so keen to encourage FTB`s to buy property. If there isn`t enough to go round, why encourage more people to buy it ? Eh ?

DervProf

HAMISH_MCTAVISH wrote: »

Everyone has a vested interest.

Some of us are just more open about ours than others....:cool:

You still haven`t guessed what my VI is (even though you accused me of having one).

I`ll be honest and so that I`m not sure I really have one. I do own a house, but I can`t say that I really want it to go up in value. My parent`s own a house, and one day I may inherit it, but I really don`t care what it`s worth. So my vested interest isn`t financial gain. I suppose I could say that if property was cheaper, I may have been able to buy a slightly larger/nicer property, but I just feel thankful that I was able to buy a modest place to live.

My interest is in seeing things done fairly, and for the next generation not to have to get themselves into a lifetime of debt just to keep a roof over their heads. I want this country to rely on services and manufacturing to pay it`s way in the world, not a false feeling of wealth because we charge each other so much for a place to live in.

Wookster

HAMISH_MCTAVISH wrote: »

And if they do, the same post also explains quite clearly why most potential FTB's will not benefit.

Interesting that you'd celebrate FTB's paying more.....

I just find all of this so funny. One week hamish posts how houses have never been more affordable... then he sticks up this.

chucky

DervProf wrote: »

Many bulls tell me that there is a shortage of property. If this is true, then I`m finding it hard to understand why you are so keen to encourage FTB`s to buy property. If there isn`t enough to go round, why encourage more people to buy it ? Eh ?

i can only speak for London but there is a shortage of good properties.

there is not a shortage of flats but there is a shortage of family houses.

DervProf wrote: »

Many bulls tell me

so what do bears tell you. what is a bear or a bull - do they exist in the real world or is this just a forum thing?

DervProf

chucky wrote: »

i can only speak for London but there is a shortage of good properties.

there is not a shortage of flats but there is a shortage of family houses.


so what do bears tell you. what is a bear or a bull - do they exist in the real world or is this just a forum thing?

I spent a few days working in London last week. There does seem to be a shortage of good properties from what I saw. The place looked quite run down. When I looked at property prices, experienced the traffic, listened to the waffle (why do people in London have to use "flowery" words to say simple things ?) and witnessed so many people looking quite unhappy, I was glad to leave the place pronto.

The bears and bull thing. I think it is a forum thing. I class a "bull" as someone who welcomes or predicts HPI. A person who thinks property prices will fall, or wants them to fall, I think as a "bear".