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House Price Crash 3
Comments
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Hi,
US 2007 recession odds change today ?
I haven't looked at the future markets.
Kind regards,
Ashley.0 -
I think IO only mortgages are going to become the big story when it all goes t*ts up! I think that most people are incapable/unable to save and in 25 years are going to be in for a nasty shock. This mortgage of course is an absolute treat for the banks and building societies they know full well that a high percentage of people on these mortgages will be handing back the keys. Its win win for the them.
Plus another nasty side of this mortgage that many people don’t understand is that if you do follow the rules of it there maybe a very nasty sting. If for example you lost your job or became unable to work because you have savings, which would more than likely be in excess of £8000 you won’t be entitled to any benefits. It won’t make abit of difference that these savings are to be used to pay for your mortgage. Very nasty indeed.0
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