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Treasury Minister replies to Martin - MSE News

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MSE_NaomiMSE_Naomi MSE Staff
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The economic secretary to the Treasury, John Glen, has responded unbidden to news that MoneySavingExpert founder Martin Lewis is funding academic research to try and find solutions to release 250,000 mortgage prisoners...

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'Treasury Minister replies: 'Martin, I'll listen to your mortgage policy plans, but I've lines you can't cross

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  • tara747tara747 Forumite
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    I'm afraid I agree with the minister (and I never thought I'd agree with a Tory). It would constitute a clear moral hazard. Why should these people get a bailout? They bid up house prices out of the reach of others and now they're crying because their gamble didn't work out. Sorry, but nobody forced them to buy. Caveat emptor. It will serve as a warning to others.
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  • Cscott139Cscott139 Forumite
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    How did they bid up house prices? They bought properties for what was market value and used products which were readily available at the time. 
  • badmemorybadmemory Forumite
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    tara747 said:
    I'm afraid I agree with the minister (and I never thought I'd agree with a Tory). It would constitute a clear moral hazard. Why should these people get a bailout? They bid up house prices out of the reach of others and now they're crying because their gamble didn't work out. Sorry, but nobody forced them to buy. Caveat emptor. It will serve as a warning to others.

    Actually it is the exact opposite.  Having their mortgages sold to none regulated companies at higher than normal interest rates mean that they need to sell at higher prices than they would have had to just to cover the extra costs.

    It is all the buy to let landlords that push prices up.

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