Nearly one million face mortgage difficulty.

Thrugelmir

antrobus wrote: »

It has been seven years since NR was nationalised, all the real carp has already been repod, written off, or provided against.

Every year the remaining assets will be appraised and provisions adjusted accordingly. " Risk" is not quantifiable 25 years ahead. .

wotsthat

Thrugelmir wrote: »

The numbers are significant enough to suggest that the issue is a problem for many people. Simply glossing over the issue as if it doesn't exist is nonsense. As much of the risk lending could be concentrated in localised issues. Which will compound the problem.

just as non-sensical to hope molehills turn into mountains.

Thrugelmir

wotsthat wrote: »

just as non-sensical to hope molehills turn into mountains.

Providing preventative and pro active action is taken there won't be a problem. At this point there potentially is. Therefore better that the matter is openly discussed. Rather than being swept under the carpet because it doesn't fit someone's personal agenda. Only takes one snowflake to start an avalanche.

wotsthat

Thrugelmir wrote: »

Providing preventative and pro active action is taken there won't be a problem. At this point there potentially is. Therefore better that the matter is openly discussed. Rather than being swept under the carpet because it doesn't fit someone's personal agenda. Only takes one snowflake to start an avalanche.

Most of the snow has melted already. During a long hard winter too.

An enormous amount has been done - the real rubbish has been sorted, every pre 2020 expiry IO has been contacted to find out how they'll repay (one of the options on offer was to sell).

I'm sure the actions will continue to ensure a) future problems are minimised and b) that IO customers attempting the mis- selling argument at a later date are thwarted by the documents they've signed.

Thrugelmir

wotsthat wrote: »

An enormous amount has been done - the real rubbish has been sorted, every pre 2020 expiry IO has been contacted to find out how they'll repay (one of the options on offer was to sell).

Isn't life simple. Write a letter to someone and the matters resolved. What if someone simply throws the letter in the bin. There's no obligation to respond. The sending of the letters was a requirement of the FCA put onto the lenders.

The FCA report was then generated from information from the lenders received. As to the number of responses with the information supplied, the number of non responses and an analysis of their own mortgage books.

The CAB figures are higher than the FCA's. Even so the FCA's figures are material in number.

As for ticking a box. Means zilch. As circumstances could change tomorrow. Let alone the years ahead.

antrobus

Thrugelmir wrote: »

Every year the remaining assets will be appraised and provisions adjusted accordingly. " Risk" is not quantifiable 25 years ahead. .

You could say exactly the same thing about any lender's mortgage book. The point would be that there is no evidence to suggest that there is any reason to think that there is some 'timebomb' lurking in the NRAM mortgage book.

antrobus

Thrugelmir wrote: »

Isn't life simple. Write a letter to someone and the matters resolved. What if someone simply throws the letter in the bin. There's no obligation to respond. The sending of the letters was a requirement of the FCA put onto the lenders.

The FCA report was then generated from information from the lenders received. As to the number of responses with the information supplied, the number of non responses and an analysis of their own mortgage books.

The CAB figures are higher than the FCA's. Even so the FCA's figures are material in number.

As for ticking a box. Means zilch. As circumstances could change tomorrow. Let alone the years ahead.

Why, what bad things do you think might happen, and what do you think should be done to prevent those bad things happening?

Thrugelmir

antrobus wrote: »

Why, what bad things do you think might happen, and what do you think should be done to prevent those bad things happening?

Let's see how the situation unravels. Too many individual variables to say what the social and financial impact will be. The initial steps have been taken. Which has had the effect of focussing many peoples minds.

mayonnaise

antrobus wrote: »

Why, what bad things do you think might happen, and what do you think should be done to prevent those bad things happening?

(Thrugelmir_impersonation) wrote:

Lots of pain. To come. The balancing of the UK. Economy has a long way to go. The world has changed. Sustainability is. Key.

.........................................

antrobus

Thrugelmir wrote: »

Let's see how the situation unravels. Too many individual variables to say what the social and financial impact will be. The initial steps have been taken. Which has had the effect of focussing many peoples minds.

So what are you mithering on about then?

If there are "too many individual variables" for anyone to reach any conclusions, and the "initial steps" have already "been taken", then what exactly is the problem?