Blair and getting a huge mortgage by

Deals_2

Cheltenham even though he has not enough income... read the story in Saturday's papers and thought it horrendous that banks turn down individuals but someone like the PM who (apart from his contacts) can get huge mortgages even though they do not earn enough for it based on potential book contracts of 20 million when he leaves as PM. any thoughts i would be interested or do i not have all of the facts right???

talksalot81

Even in the absence of a book, the Blairs have plenty of potential for money making. I doubt that there would be any real trouble servicing their current debt. Average Joe does not have this, if they lend him too much then he simply has no possible way of paying it back.

In reality it is daft to complain that average Joe is unable to borrow stupid amounts of money. It is a really bad approach to work on the basis solely of what you can get, this is the problem with the country at the moment. Forget what you can borrow, think first and (at all points) foremost what you can genuinely afford. Dont be jealous of someone who manages to borrow more than you, it simply means more debt and more trouble paying it back.

maninthestreet

Never mind 'Two Jags' John, it's 'Five Houses' Tony now.
Good to see he hasn't forgotten his socialist principles.

Deals_2

just find it strange when i say that i can repay things off several ways and thsi is not even considered as relevant but it is not bog standard situation.

talksalot81 wrote:

Even in the absence of a book, the Blairs have plenty of potential for money making. I doubt that there would be any real trouble servicing their current debt. Average Joe does not have this, if they lend him too much then he simply has no possible way of paying it back.

In reality it is daft to complain that average Joe is unable to borrow stupid amounts of money. It is a really bad approach to work on the basis solely of what you can get, this is the problem with the country at the moment. Forget what you can borrow, think first and (at all points) foremost what you can genuinely afford. Dont be jealous of someone who manages to borrow more than you, it simply means more debt and more trouble paying it back.

Deals_2

two jags John - who is this exactly?

maninthestreet wrote:

Never mind 'Two Jags' John, it's 'Five Houses' Tony now.
Good to see he hasn't forgotten his socialist principles.

Guy_Montag

Bit hard to write a book when you're up for war crimes in the Hague. Hope he ends up as some Serbian's prison b1tch!

luckyfool

The press talking about the income multiple purely on Tony Blair's salary is slightly misleading as his wife Cherie earns about 3* his salary, figures I have seen show her earning over £500,000 per annum. With Tony's £150,000 approximately, and the fact that their mortgages are spread over a number of properties, some of which are let out, the actual mortgage balances being supported by their income, as opposed to by rental income, is much lower than is being reported.

As usual there is an element here of the press creating a story out of thin air, IMHO.

Also Tony Blair's potential earnings upon leaving office are not just based on book contracts, he will surely join the lecture circuit for a year or two where John Major, Margaret Thatcher, Rudy Guiliani, Bill Clinton etc all are or have earned £100,000+ an appearance giving lectures or speeches to groups of businessmen. He will be earning more in 2 days than he did each year as Prime Minister.

Deals_2

????? dont understand

Guy_Montag wrote:

Bit hard to write a book when you're up for war crimes in the Hague. Hope he ends up as some Serbian's prison b1tch!