WARNING: Offset Mortgage? DWP discriminate & deny means tested benefits if used.

PasturesNew

There's another anomaly with regard mortgages/payments. If you buy a residential park home/mobile home, 100% residential, this is done with a personal loan (not a mortgage). So for those people there's no help with repaying their interest while out of work as it's not a mortgage - yet a mobile home loan operates the same as a mortgage in that it is providing money to buy a roof over your head.

silvercar

PasturesNew wrote: »

There's another anomaly with regard mortgages/payments. If you buy a residential park home/mobile home, 100% residential, this is done with a personal loan (not a mortgage). So for those people there's no help with repaying their interest while out of work as it's not a mortgage - yet a mobile home loan operates the same as a mortgage in that it is providing money to buy a roof over your head.

Is it a secured loan? ie if you had arrears could they take you to court then repossess.

VictimOfImpersonation

Can I just advise you not to take any advice from our resident Troll diolch that's his latest username, you might be intrested in his previous username especially this thread: ...

Crikey, now I feel a bit sad ... don't know what to say except that I understand that diolch means 'Thank you' in Welsh ... found that out without needing to put a babelfish in my ear too

So I suppose the story about the Scientific Director and her Nationwide flexible mortgage was indeed muddied or somewhat clouded at least - that's could be said to be a bit of luck

PasturesNew, another interesting anomaly. I often marvel at the number of people now living in mobile home parks, many of them having hit hard times and having cashed-in meagre equity in 'proper homes' concluding that a mobile home on a half reasonable park is the best quality of accommodation they can buy with the cash rather than downsizing to a cheaper house in a truly grotty area. Having been tempted to do a bit of reading this afternoon on the direct.gov.uk links dmg24 gave in the Sticky about Mortgage Interest support changes I wonder whether sneakily the government actually redefined (=restricted) what was a qualifying loan just last year.

As far as I know, under the old rules, it was the loans purpose to buy your home that qualified it - so do they now insist it is a loan secured on the home or is it even worse than that and has to have a related 'Mortgage Deed'?

diolch

VictimOfImpersonation wrote: »

Crikey, now I feel a bit sad ... don't know what to say except that I understand that diolch means 'Thank you' in Welsh ... found that out without needing to put a babelfish in my ear too

So I suppose the story about the Scientific Director and her Nationwide flexible mortgage was indeed muddied or somewhat clouded at least - that's could be said to be a bit of luck

PasturesNew, another interesting anomaly. I often marvel at the number of people now living in mobile home parks, many of them having hit hard times and having cashed-in meagre equity in 'proper homes' concluding that a mobile home on a half reasonable park is the best quality of accommodation they can buy with the cash rather than downsizing to a cheaper house in a truly grotty area. Having been tempted to do a bit of reading this afternoon on the direct.gov.uk links dmg24 gave in the Sticky about Mortgage Interest support changes I wonder whether sneakily the government actually redefined (=restricted) what was a qualifying loan just last year.

As far as I know, under the old rules, it was the loans purpose to buy your home that qualified it - so do they now insist it is a loan secured on the home or is it even worse than that and has to have a related 'Mortgage Deed'?

Correct in what you say - there has to be a 'mortgage deed'.

As regards this funny stuff going on which I have no idea about, I just leave them to it, as there are some really wierd people on this site. You should try CAG, it is much more civilised and is monitored properly.

Getting back to your comments about the cars, I take this from your own post:

we have shiney cars about to be repossessed in driveways

2sides2everystory

we have shiney cars about to be repossessed in driveways

... ah, all becomes crystal clear, diolch ... advanced intermediate use of English vocabulary, old boy (which probably means I have beaten the language into a pulp so you misunderstood - sorry about that )

I meant "we" generally, that is society at large, who may now habitually observe shiney cars about to be repossessed in driveways (it is not unusual to actually see them being repossessed in some necks of woods - no-one bats an eye when they get the clipboards out :rotfl: - a curtain or two may twitch but that's about it :shhh: ).

diolch

2sides2everystory wrote: »

... ah, all becomes crystal clear, diolch ... advanced intermediate use of English vocabulary, old boy (which probably means I have beaten the language into a pulp so you misunderstood - sorry about that )

I meant "we" generally, that is society at large, who may now habitually observe shiney cars about to be repossessed in driveways (it is not unusual to actually see them being repossessed in some necks of woods - no-one bats an eye when they get the clipboards out :rotfl: - a curtain or two may twitch but that's about it :shhh: ).

Ah I see now - thanks.

Yes many people live well beyond there means.
Put it another way, if you thought you would be dead within 6 months what would you do to change your lifestyle - live beyond your means maybe? Cos, you can't take it with you!