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Debate House Prices


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Lloyds Checking IO Mortgages for Fraud and other stories

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Comments

  • A._Badger
    A._Badger Posts: 5,881 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The problem is they aren't really able to afford them. .

    How do you know this? It's just conjecture.
  • A._Badger wrote: »
    How do you know this? It's just conjecture.

    No, it's common sense.
  • A._Badger
    A._Badger Posts: 5,881 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    No, it's common sense.

    Of course it is.
  • A._Badger wrote: »
    How do you know this? It's just conjecture.

    My point earlier. I love debating stuff on here and I've learned quite a bit from the discussions, but its a bit pointless when people just state their beliefs as facts and then (metaphorically) put their fingers in their ears. It's like trying to discuss natural selection with the Pope.
  • antrobus
    antrobus Posts: 17,386 Forumite
    That just says that the vast majority had no repayment vehicle, not that they didn't have the cash to repay the mortgage (which is what thruglemoor stated).

    I have no repayment vehicle as far as the FSA definition of one is concerned, but I do have £70k in savings (and a further 23 years to add to those savings).

    Well I imagine that the FSA didn't go as far as examining the exact financial circumstances of individual borrowers. But then either you've got a repayment vehicle or you haven't. I'd quite understand that even many of those who don't have a repayment vehicle may well have a plan in mind. Still a bit riskier from the bank's pont of view.
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