Wow £50 a week worse off from today

Loanranger

liam8282 wrote: »

What about all the benefits that have been or were made available to people with mortgages who couldn't afford to pay them?

People were getting their mortgages paid for, this would have amounted to so much more than people have received in for example a childcare element of tax credits.

But these benefits seem to be ignored by the high & mighty brigade, it doesn't quite fit their argument that it is only low income families that claim tax credits or benefits.

Incorrect.

liam8282

melly1980 wrote: »

im pretty sure only the interest was paid, which stops repossessions. This si essentially giving money to the bank / mortgage provider not those people. They didnt financially gain out of it.

What about interest only mortgages?

Even so, interest on mortgages is still a hefty chunk that people have claimed.

Maybe if the natural course was allowed to occur, people who had over stretched themselves and had mortgages they could not afford, yes they would be repossessed but that is what happens when you cannot afford a mortgage.

Then the housing market could get back to realistic level and not be kept artificially high.

To say the didn't gain financially out of it, I cannot understand that at all. They are getting cash to pay their mortgage or a proportion of it, they own the property, so yes they are benefitting financially.

Are they ever going to have to pay any of this money back?

Loanranger wrote: »

Incorrect.

Why?

melly1980

liam8282 wrote: »

What about interest only mortgages?
?

Well thats the same thing. Ifyour on an interest only mortgage you are never paying off any capital. Therefore any payments by the benefits system is paying the bank only not accumulating actual money for the claimant.

meluvnext

Nitha wrote: »

Tax credits should go but obviously the dependency is there at the moment. However the cuts are having an impact on the retailers - look at the Asda/Tesco price wars, food is getting more and more reasonable. In turn we should 'need' less money. People paying childcare are hit the worst but remember it's five years max (4 for most who take full mat leave).

We are lucky people really - think of the 30s recession in the USA. At least we've a roof over our heads.

I disagree with that, what happens to those of us who required before and after school care for our children and holiday care? It is very rare you could find a job where you work 10 till 2 allowing you to do the school run and which also gives you the school hols off.

flashnazia

Blue22 wrote: »

Have you made a mistake with that figure of 278?

I don't think so. Used listentotaxman.com

I haven't included NI and employer's NI so the contribution is higher than quoted.

KimYeovil

Nitha wrote: »

However the cuts are having an impact on the retailers - look at the Asda/Tesco price wars, food is getting more and more reasonable.

Are you mad?

liam8282

melly1980 wrote: »

Well thats the same thing. Ifyour on an interest only mortgage you are never paying off any capital. Therefore any payments by the benefits system is paying the bank only not accumulating actual money for the claimant.

So there is no benefit to living in the house?

The person in the property would have to make the mortgage payments, so when they don't where does the money go that would have paid the mortgage?

You are not paying rent, but are getting your mortgage paid. So you are living in a property for free.

When you eventually sell the house and the price has increased and you have made a profit.

It is a massive benefit that people who are fortunate enough to have got a mortgage and a house, dismiss as it not being a benefit.