We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Who saw bbc panarama britians hidden housing crisis
Comments
-
Guess what the second likeliest cause of death is (after accidents) ?
Suicide - where there would be no payout anyway.
Life assurance pays out on suicide.I'm all for affordable insurance for catastrophic events, but people should understand what the real risk is. The risk of a 35 year old male dying within a year is roughly 14 in 10,000.
I thought the odds would be higher. I guess there is even more reason to have life assurance there.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
It's not just important to make provision for what might happen, but to keep revisiting your arrangements to see if they're still appropriate.
When my husband and I were young, both working full time, living in a rented house, and childless, we didn't think we needed any life insurance - if one of us died, the other one would be able to support themselves as a single person. A few years later when we had our first kid (in 2000), when we were living in tied accommodation that came with his job, we took out policies on each other's lives. We chose it so that my policy on his life was enough that if I put it together with his pension scheme's death in service payout, I'd be able to buy a house outright, since the kids and I would lose the tied housing.
When he died, in 2009, I realised that what would have bought a decent house in 2000 wasn't going to get me anything like that in 2009, and that was despite his having moved to a different line of work and getting £50k more death in service lump sum than he would have got from his previous job.
As it happens, it worked out OK for me. I bought a lovely house by borrowing the extra from my parents (at interest, beating their savings account so they're not out of pocket) with a plan to start paying it back gradually and then clear the whole debt once I get my compensation for the accident that killed him.
It would have been very different, though, if he'd died of natural causes and that compensation money wasn't part of the picture. Just goes to show that you can make prudent decisions, but that doesn't mean that once you've made them you can forget about them.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
0 -
to be clear... the woman with cancer who was evicted for owing £9K on a £180K house - presumably the bank would sell it & then present her with a cheque for £171k [less a few overpriced fees, no doubt], right?FACT.0
-
I got the impression that the £9k was how far she was behind with the repayments. Not the outstanding mortgage.the_flying_pig wrote: »to be clear... the woman with cancer who was evicted for owing £9K on a £180K house - presumably the bank would sell it & then present her with a cheque for £171k [less a few overpriced fees, no doubt], right?0 -
the_flying_pig wrote: »to be clear... the woman with cancer who was evicted for owing £9K on a £180K house - presumably the bank would sell it & then present her with a cheque for £171k [less a few overpriced fees, no doubt], right?
She had arrears of £9k IIRC. Interest charges were £37 per week or equivalent to say a ~£40/45K mtge.
You would expect their to be some equity but she may have additional loans outstanding against that equity 2nd/3rd mortgages or charging orders. there may be overhanging debts from her ex partner.
She admitted that she didn't read things (when she took on the new temporary flat).
IME the reason things get to this point is that people have ignored correspondence, defaulted on new arrangements where the lender is trying to help etc."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Kennyboy66 wrote: »
When they are trying to terrify their clients to buy a commission heavy product,
IME the scare tactic was a sales ploy.
I am not saying it isn't relevant in certain circumstances and it is in the interest of clients to make them aware.
No different to the myriad of insurance products available to cover all eventualities. Of course if you took them all to mitigate risks you probably couldn't afford to live."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
They make you sign for the temp accommodation before you see it, that way if you turn it down you are making yourself homeless.Mortgage: Aug 12 £114,984.74 - Jun 14 £94000.00 = Total Payments £20984.74
Albert Einstein - “Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”0 -
The trouble with these programs is that they never give you all the facts just the headline that creates the best reaction.
I do truly feel for people that fall on hard times it can happen to any off us.There are always going to be risks that can't be adequately mitigated against whether you prepare or not and for those I feel truly sorry.
The "businessman" was living a dream. the mortgage appeared to be I/O. He had eggs all in one basket and milked it heavily by the looks of things.
Did he never once think how am I going to actually buy this house? Did he never ask what if?
The family of six seemed to have many problems going on of which housing was just one. If they defaulted on rent arrears and didn't fill out/chase up the the necessary claim forms they didn't help themselves.
Don't councils get attachment of earnings /benefit orders? I did think the delays in the council housing system were ridiculous and unnecessary. It also seemed a bit AAF to evict them only to then to have to rehouse them. The cost to the council tax payers must be high relative to the arrears?
I thought the money being charged for the hostel accommodation was scandalous, for what was provided, but no doubt is dictated by local markets. Whilst I can understand individuals being ruled out of help if they make themselves "intentionally" homeless don't the council still have some responsibility for the children.
At least the "banker" seemed to have a positive outlook. As others have said why didn't he provide for his future out of his presumed high earnings? Perhaps he did, perhaps his divorce wiped him out, perhaps his business failure did?
So many people just don't look forward and ask basic questions of themselves. IME many who end up in these positions have allowed things to build up over time and haven't tackled issues and problems as they arise. It is often not one thing it is a succession of things, that can sometimes be mitigated, that add up.
I know this is a particularly bad and different type of recession/depression but it shows just how thin the net has become and I don't see it improving."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
exarmydreamer wrote: »They make you sign for the temp accommodation before you see it, that way if you turn it down you are making yourself homeless.
I appreciate that but it is indicative of how she dealt with the mortgage issues too (I think she may actually have made that point).
Temporary council property isn't likely to be nice."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Yes-I saw it.Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards