Repossession, Repossession, Repossession

DGJsaver

I think a lot of people are confusing entertainment with a factual documentary

Lotus-eater

DGJsaver wrote: »

I think a lot of people are confusing entertainment with a factual documentary

You're right, what a missed opportunity.

PasturesNew

The repossessed couple had a more in depth interview on their local news.

It seems having bought their council house under RTB, they went on a spending spreed. Double glazing, carpets, decor, that fish pond, holidays, spend, spend, spend. So they kept increasing the mortgage to cover it all.

Lotus-eater

PasturesNew wrote: »

The repossessed couple had a more in depth interview on their local news.

It seems having bought their council house under RTB, they went on a spending spreed. Double glazing, carpets, decor, that fish pond, holidays, spend, spend, spend. So they kept increasing the mortgage to cover it all.

So just as we thought, MEW'd for quick happiness, couldn't afford the mortgage my @rse!

Generali

PasturesNew wrote: »

The repossessed couple had a more in depth interview on their local news.

It seems having bought their council house under RTB, they went on a spending spreed. Double glazing, carpets, decor, that fish pond, holidays, spend, spend, spend. So they kept increasing the mortgage to cover it all.

Actually its not that dumb.

You get given a huge sum of equity in the form of a RTB discount. Then HPI gives you a whole load more. You've done absolutely nothing to earn that equity except chose your LL wisely.

Spending it on a better lifestyle isn't so bad. Beats giving it to a bunch of sullen offspring.

MABLE

PasturesNew wrote: »

The repossessed couple had a more in depth interview on their local news.

It seems having bought their council house under RTB, they went on a spending spreed. Double glazing, carpets, decor, that fish pond, holidays, spend, spend, spend. So they kept increasing the mortgage to cover it all.

I suppose renting from the council for a number of years and then being given the opportunity to buy it at a fraction of its worth must be very tempting for some people to go on a spending spree. I feel very sorry for them because they were perhaps not equipped to deal with home ownership.

I read somewhere they have now gone into a council flat so perhaps in time they may have another chance under the rtb scheme. If so they will no doubt do things differently.

Rose_Crow

I not really got anything else to add other that what's already been said. Idiots - especially that Essex girl, whoever said she had an IQ of 24 was spot on .

That 25k overdraft made me cringe, I'm intruiged as to how much he earns. More information would have answered a lot of questions.

I just don't understand what is going through these peoples minds. How can you be completely oblivious to what is happening with your money? That racehorse guy just seemed to glaze over when he was listing his debts.

Still, entertaining none the less

Lotus-eater

MABLE wrote: »

I suppose renting from the council for a number of years and then being given the opportunity to buy it at a fraction of its worth must be very tempting for some people to go on a spending spree. I feel very sorry for them because they were perhaps not equipped to deal with home ownership.

I read somewhere they have now gone into a council flat so perhaps in time they may have another chance under the rtb scheme. If so they will no doubt do things differently.

Well I was tempted to go on a spending spree, I could have borrowed 4 times my £60k mortgage and spent it all, did I ,no, do I feel sorry for them, no.
If I had got hurt at work and lost my house, would I have got a council flat, no.

MABLE

Lotus-eater wrote: »

Well I was tempted to go on a spending spree, I could have borrowed 4 times my £60k mortgage and spent it all, did I ,no, do I feel sorry for them, no.
If I had got hurt at work and lost my house, would I have got a council flat, no.

Who said life was fair.

Lotus-eater

Well, they had a better lifestyle than they could afford, they borrowed more than they could afford, they spent more than they could afford......... then they had to pay it back......... and they couldn't...... so they lost the thing they had secured the borrowing against, their house, I think thats fair.