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007stuart wrote: »
That what 35 yrs in the business does.
I must admit I did think the rise in house prices was unsustainable and when I saw Sub Prime rates at time lower than Prime I really began to worry. However it's a bit like the "King's new clothes" we only see what we want to see but like everyone else I sat back and watched my house jump in value. Really it was just like the Dire Straits song "Money For Nothing" In my view the anthem of the 90's.
Re the LCE shortfalls, like everything hindsight is a wonderful thing. All the marketing support showed past performance and was always followed by the disclaimer " Past performance is no guarantee to future returns" yet they always seemed to be able to go 25 yrs into the future with their illustrations. I had 3 policies myself and fortunately broke even in 2 and lost £700 on the last. However I also have to bear in mind that the monthly mortgage payment I made had reduced whilst rates were low so perhaps if I had applied to savings on I made on my monthly payments to my mortgage balance I may have ended up in profit. However it's more fun to spend the savings on more exiting things and perpetuate the economic boom.
zizouzidane11 wrote: »
If you succeed in your complaint, then please share. My bank have also been implicated in the credit crunch saga and I may have a few cases against them then:
dunstonh wrote: »
I'm not sure what I am most astounded by. a) the outcome, if true or b) the fact a complaint like this got turned around in under 8 weeks.
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