Mortgages are illegal?

dotdash79

Just wait until we have to frack for cheese, then things will change.

ACG

If you go looking for conspiracy theories your going to find some nut job who has put a video together and made it sound like it could actually be true.

Unless your prepared to do your own research and get reading through the law books then i think you are probably best going with what the general consensus is.

TheGonza

I'm not talkign conspiracys here since this isnt maybes at all this is fact!

I'm defiantley not a conspiracy guy, but i'm looking at it by british law and how a mortgage is created and it goes against eachother so much so I think this should be like PPI claims and peoples intrest on mortgages by law should be paid back

I'm mainly postign here to see if anybody has any exprience within british law to confirm or deny or point me to the law that over rules this

dunstonh

but i'm looking at it by british law and how a mortgage is created and it goes against eachother so much so I think this should be like PPI claims and peoples intrest on mortgages by law should be paid back

oh boy. You have a lot to learn.

TheGonza

dunstonh wrote: »

oh boy. You have a lot to learn.

then tell me more!

pelirocco

well I guess if your mortgage is illegal then you have no rights to live in your house , after all you havent paid for it

Why only claim back interest ? if its illegal surly you should go the whole hog and claim back all you have paid ................oh hang on you didnt physically part with any money ,its all electronic so by your logic you havent paid anything ?

TheGonza

pelirocco wrote: »

well I guess if your mortgage is illegal then you have no rights to live in your house , after all you havent paid for it

Why only claim back interest ? if its illegal surly you should go the whole hog and claim back all you have paid ................oh hang on you didnt physically part with any money ,its all electronic so by your logic you havent paid anything ?

look at your £10 note, ''I promise to pay'' promisey notes thats all they are, so if you take out a mortgage you promise to pay 180k for example, but no money is actually being lent. So the contract was to pay 180k fine but the moment they start charging intrerst on money you the buyer of the house have created. it goes against british law, of course you have the right to pay your intial sum agreed but not the intrest

opinions4u

You keep referring to "British Law".

There is no such thing.

<slaps self for feeding the thread>

lfc321

TheGonza wrote: »

look at your £10 note, ''I promise to pay'' promisey notes thats all they are, so if you take out a mortgage you promise to pay 180k for example, but no money is actually being lent. So the contract was to pay 180k fine but the moment they start charging intrerst on money you the buyer of the house have created. it goes against british law, of course you have the right to pay your intial sum agreed but not the intrest

I don't follow your logic at all. If I sell you my house, the purchase price (part of which is your deposit, the rest of which comes from your mortgage company) is transferred to me. If I wanted to I could then go and draw that out of the bank in £10 notes, or I could use it to buy bars of gold, or whatever I wanted. So how do you figure that "no money is actually being lent"??

Goldiegirl

TheGonza wrote: »

so if you take out a mortgage you promise to pay 180k for example, but no money is actually being lent.

If no money is being lent .......how have you managed to buy your house, unless you've got £180,000 worth of £10 notes that you've got stacked up under your mattress?