Pensions to be used for mortgage guarantees?

Emy1501

At a time when the government are trying to encourage more people to save for a pension and also more and more people are reaching retirement realising they do not have enough for their retirement it is amazing that the the LD's want to encourage those close to retirement to gamble their potential pensions on deposits for family members.

Surely it makes sense to work out why young people cannot save as a couple the £300-£400 a month for 3-4 years to get a reasonable deposit.

The scheme just seems a desperate attempt to keep prices high.

No reason why a young couple should not be able to save a deposit. Maybe rather than this scheme parents should be encouraging their children to live at home longer and saving the necessary deposit.

Thrugelmir

A._Badger wrote: »

As I understand it, that is not why NR failed though. It failed because it borrowed the money it loaned at rates which it ceased to be able to pay after the US system rolled onto its back, twitched and stopped breathing.

Wholesale money markets dried up. NR was forced to borrow from BOE. Depositors panicked and the liquidity problem was compounded.

Thrugelmir

A._Badger wrote: »

For all the hysteria about 'liar loans' it has not been the UK's mortgage buyers who have defaulted, but hopeless case buyers in the USA who were force-fed loans to buy votes.

Lehmans used same principles to sell NR mortgage debt as was the case in the US. Investors thought they were buying high quality debt. Remember 3 of NR's was banned for falsifying financial data. Thereby creating a false impression of defaults. The 2006 statutory accounts omitted the fact that some 2,000 repossessions were pending. Thereby creating a false market for securitisation issues.

mcc100

HAMISH_MCTAVISH wrote: »

That's fascinating.

Can you explain how I'd be "financially shafted" if prices fall, or why I "need" prices to rise?

You're an intelligent person who posts, on average, 10 times a day. Virtually every post you make is attempting to ramp up house prices.

There is no surprise that you give the impression of being a professional BTL'er with massive exposure to house prices.

You claim to be a male poster in Scotland

This is an anonymous forum and you could be anybody...... even a female poster in England with a huge BTL portfolio.

HAMISH_MCTAVISH

mcc100 wrote: »

You're an intelligent person who posts, on average, 10 times a day. Virtually every post you make is attempting to ramp up house prices.

If I wanted to "ramp up house prices" then the last place on earth I'd pick to do so would be an obscure hidden sub-forum with no more than a few dozen users....

You'd have to be absolutely barking mad to think that anything posted on here, or any other house price board, has any impact on house prices at all in the real world of nearly a million transactions a year where in excess of 99.999% of buyers and sellers will never have read a word any of us have written.

And as I assume you're not barking mad, then the only logical reason for your allegation is that of attempting to create a 'fallacy ad hominem' within the debate.

mcc100

HAMISH_MCTAVISH wrote: »

the only logical reason for your allegation

Read my post again. Where am I making an allegation?

HAMISH_MCTAVISH

mcc100 wrote: »

Read my post again. Where am I making an allegation?

"Virtually every post you make is attempting to ramp up house prices."

Loughton_Monkey

The story so far:

Hamish positions himself as a Scottish male. It has been suggested that he is in fact an English female. A suggestion that (s)he has not so far denied.

Further, it has been alleged that Hamish is an intelligent person, but that virtually all his/her posts are an attempt to ramp up prices. This allegation has been firmly denied by Hamish.

Whilst I fully believe that any comments on here, by any person, will have zero effect on the price of any house, I still remain confused as to the intelligence and sex of Hamish. I look forward to clarification in due course.

geoffky

Check back posts when hamish was a hpc member and all will be revealed..
He has no blt..But fair to him he has never claimed to have any.
Other people presume..

Loughton_Monkey

geoffky wrote: »

Check back posts when hamish was a hpc member and all will be revealed..
He has no blt..But fair to him he has never claimed to have any.
Other people presume..

Hamish does own two houses, I believe, but neither are BTL.

To the best of my knowledge, he has no greater (or lesser) interest in house prices than most home owners. In other words naturally we would all like them at least to maintain real value, but until such time as we sell and live in a caravan, the value is purely a 'paper' one.

He does, however, study the subject rather more than most.

So the boy's innocent. [or is it girl?]