bye 100% plus!

toonfish

is this the same house price crash that's been coming for the last 5 years?

Never read so much bitterness, and as long as the client is aware of what they are doing then any one of the aforementioned products can serve a useful purpose.

MortgageMamma

sorry I've not responded to this thread, I dont like all the bitterness and accusations being thrown around - they are really uncalled for.

I know there are bigger issues being discussed here, but just to point out to those who have accused me of being a property leech, a fat cat thats milked the nation of all its money fraudulently, and questioned whether I am for real let me just say yes I AM REAL. And my position is not unique, most brokers are struggling but very few will confess to it. I have been a mortgage broker since August 2005, and although HIGHLY qualified with many years spent in senior positions in other linked industry areas - I am fairly new to mortgage advice therefore have not benefitted from the boom as some have put it.

I have never once done anything other than what is in my clients best interests and never will. Scratchthecat - I dont know how anyone who is an electrical engineer can really take the moral highground and accuse brokers of having jobs which are not worthwhile. Unless you actually see what we do, and see the complexity of some of the advice we give you really are not qualified to comment. Just like you, we save people from frying themselves all the time. You are clearly just a born aggressor who thinks it is ok to speak to people and accuse them of such things without good grounds, which speaks volumes about the kind of individual you are.

Being an electrical engineer is no big deal, anyone could do it if they really wanted to and went and got a degree.

Have a good day.

MM

Turnbull2000

toonfish wrote: »

Never read so much bitterness, and as long as the client is aware of what they are doing then any one of the aforementioned products can serve a useful purpose.

Damn right they're bloody bitter. The muppets that helped perpetuate this bubble have put peoples lives on hold.

toonfish wrote: »

is this the same house price crash that's been coming for the last 5 years?

And with logic like that, it's hardly surprising that some suspect mortgage advisers are utter tools

EdInvestor

toonfish wrote: »

is this the same house price crash that's been coming for the last 5 years?

Never read so much bitterness.....

There seem to be a lot of people out there who took a punt that the market would crash a few years ago and sold their homes, planning to buy back in when prices fell and thus make a packet.

Instead, what's happened is that prices have rocketed out of their reach and they can't any longer afford to buy (except maybe with a subprime mortgage which is no longer available).Meanwhile these people have been in rented, paying off their landlord's mortgage, which accounts for why they hate BTL so much.

They do tend to be very bitter, possibly because it's their own fault, they were too smart for their own good and wouldn't listen to the views of more experienced people who could see the folly in their plan.

Do they deserve our sympathy now? Not IMHO, for they are only speculators, the same as the very people that they so enjoy criticising.They made a bet and lost. Tough, but that's the name of the game.

scratchthecat

I am glad you are all so well qualified as it will help you get another job when the property market bears no more low hanging fruit for you.

By the way, have any of you encouraged anyone to lie to buy? I guess that you have seeing as "any one of the aforementioned products can serve a useful purpose". What about going to jail? Is that a useful purpose?

toonfish

Turnbull2000 wrote: »

Damn right they're bloody bitter. The muppets that helped perpetuate this bubble have put peoples lives on hold.



And with logic like that, it's hardly surprising that some suspect mortgage advisers are utter tools

I was just asking a simple question - is this the same house price crash, or a different one? All thos folk that listened to the doomsdayers in 2003 would be sitting pretty if they had bit the bullet. You may not like it, but that's an indisputable fact.

And why do people need to put their lives on hold? If you can't afford to buy then you need to rent - same as it ever was.

What makes me smile is bitter muppets with little knowledge who begrudge folk the right to make an honest living. Similarly those that are rubbing their hands waiting for a repossession, or trying to buy houses way under value. It hardly impacts on me, because people always need help, just maybe in a different scenario.

toonfish

scratchthecat wrote: »

I am glad you are all so well qualified as it will help you get another job when the property market bears no more low hanging fruit for you.

By the way, have any of you encouraged anyone to lie to buy? I guess that you have seeing as "any one of the aforementioned products can serve a useful purpose". What about going to jail? Is that a useful purpose?

I have done self cert in the right circumstances yes, never lied though. If you want to cast aspersions on my character and professional status may I suggest you are on a very sticky wicket.

What you don't seem to understand is that the "property market" has little impact - people will still buy and sell, or remortgage regardless if house prices go up or down. I guess you should have bought yourself a couple of buy-to-lets a few years ago, would have made you a bit more cheerful.

jimmyay

guyrulius wrote: »

I'm a software engineer - I work on avionics systems - so I do something reasonably useful and am paid well for it and I don't need to tug my forelock to anybody.

I am accountable for my actions and design decisions unlike it seems most in the financial services industry.

The financial services industry is about to reap the benefit of what it has spent a decade sowing. You had all better buy yourselves a shoeshine kit and learn to say thank you in Chinese because you will have nothing else to fall back on by the time this has finished.

oh dear, i see the tin foil hat spammers from housepricecrash website, the frustrated IT & software engineers and IT consultants and engineers have come on the board to disrput it with their bitterness, spite and cliches. sad.
go back to your doomsday cult and talk to yourselves. no one else cares.

Turnbull2000

toonfish wrote: »

I was just asking a simple question - is this the same house price crash, or a different one? All thos folk that listened to the doomsdayers in 2003 would be sitting pretty if they had bit the bullet. You may not like it, but that's an indisputable fact.

And why do people need to put their lives on hold? If you can't afford to buy then you need to rent - same as it ever was.

What makes me smile is bitter muppets with little knowledge who begrudge folk the right to make an honest living. Similarly those that are rubbing their hands waiting for a repossession, or trying to buy houses way under value. It hardly impacts on me, because people always need help, just maybe in a different scenario.

Sitting pretty? What just like Estie, stuck on the first rung. Get f*cking real. Unless those that bought a home in 2003 exit the market, then their cost of living has increased - more so if they choose to upsize

Please stick to your deluded little world of doomsayers, STRs (FTBs and upsizers don't seem to exist) and free wealth for all. People are finally waking up the morally corrupt like yourself, who evidently preyed on peoples mistaken belief that HPI = sitting pretty.

UK007BullDog

Well, Once an engineer always an engineer.

We on the other hand have to keep up and do continuous studying, we have to pay high insurances in case we get labelled as a "miss seller".

Also it is not us who feeds the high prices or the mortgage multiples. We use what we are given by the BANKS!!!! If the banks offer a product then it will get used by someone.

Like mentioned above I have talked myself out of a lot of business because I told the client that what they want to do is not going to work and they will crash. But they decided to go to another broker who did the job and the customer comes back to me gloating that they got the mortgage they wanted. Well, at least I can sleep at night, not having to worry that the police or the FSA will rumble and I get banned from ever working in the financial industry. And the broker who did the deal is one of the 200 being investigated by the FSA (I heard some gossip in the grapevine). The client has come back to me as they cannot support the mortgage anymore and want ME to help them now. They went for the WORST product out there, greedy !!!!!!s own fault, and I told them I can no longer help them too may secured loans, personal loans, CC's and hire purchases. Tough luck!

I also do not drive a fancy car. My car was second hand when we bought it and it is now nearly 8 years old. And there are no plans to buy a new one. I use mostly public transport. I do not have a flashy house but a standard terrace, my last holiday was last year for a week in Spain and before that had no holiday for 3 years.

So yes, the market is impacting us but a lot who have a good mix and treat their clients right will survive. Those that charge ridiculous fees and treat customers with contempt will die. I expect good brokers to survive and thrive because with high street banks pulling out they will need us to find the best mortgage for them.