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Debate House Prices
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Mortgage Lenders Move The Goalposts
Comments
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HAMISH_MCTAVISH wrote: »Oh right.....
I must have just imagined the billions of pounds reclaimed in bank charges and PPI payments then.
A totally different situation that largely came about when people who thought they were insured found out that they weren't. The complaints about PPI started in the early 1990s and it only took 20 years for the banks to be brought to account for misselling (and that's exactly what it was) due to action driven by the FSA retrospectively changing rules.
You are expecting a consumer rebellion by people who don't understand the word 'variable'.1. The house price crash will begin.
2. There will be a dead cat bounce.
3. The second leg down will commence.
4. I will buy your house for a song.0 -
SecondLegDownIsTheBigOne wrote: »A totally different situation that largely came about when people who thought they were insured found out that they weren't. .
As opposed to a situation when people who thought they had a tracker mortgage which tracked the base rate suddenly found out they didn't.
Or those who thought they had a variable rate linked to the base rate found out they didn't....
Of course, I'm quite sure those PPI agreements probably had all sorts of "get out" clauses buried deep in the legalese of a 50 page contract.
Didn't do them any good though....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »As opposed to a situation when people who thought they had a tracker mortgage which tracked the base rate suddenly found out they didn't.
Or those who thought they had a variable rate linked to the base rate found out they didn't....
Of course, I'm quite sure those PPI agreements probably had all sorts of "get out" clauses buried deep in the legalese of a 50 page contract.
Didn't do them any good though....
They do still have tracker mortgages.
They are still linked to the base rate.
I'll bookmark this thread for the year 2045.
Variable.
If the OED retrospectively changes the definition of variable then maybe.1. The house price crash will begin.
2. There will be a dead cat bounce.
3. The second leg down will commence.
4. I will buy your house for a song.0
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