Tuesday, Dec 11, 2007
Beleaguered! WTF?!? Seeing your money tripling in a decade is hardly beleaguered - I give up!
Guardian: Cameron seeks help for beleaguered homeowners
Conservative leader David Cameron today urged lenders to help homeowners struggling with rising mortgage repayments.
Around 1.4 million people will see their cheap fixed-rate mortgage deals end next year, and could face sharp increases in mortgage costs. But a rise of £200 a month could be the "final straw" for many homeowners, said Cameron.
He suggested banks stagger interest rate rises, as well as offer better advice about payment options to beleaguered borrowers. For example, switching some to interest-only loans, he said.
Posted by tyrellcorporation @ 10:20 PM (265 views) Add Comment
5 Comments
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1. Stevie Dee said...
What was Cameron saying about the "T@sser within" a couple of years back!!
http://www.youtube.com/watch?v=hTa64yOnRqA
So David wants to help the same "T@ssers" who he highlighted a couple of years back!
David, don't worry about these "T@ssers", worry about the mess you will eventually have to clear up!!!
2. Quiet Guy said...
"After all, it's in no one's interests if homeowners can't keep up with their repayments. Because, let's not forget, banks lose out too if mortgages are not repaid."
Well I hate to say it but it is in my interest. I can sympathise with a young couple starting a family who bought recently because they needed the room but there is no easy way out of this credit mess now.
3. disgustedofyork said...
Looks like somebody smells political capital to be made from the current property situation. Of course, it's a nice vote winner and sure to bolster popularity with those facing an IR shock shortly.
It does make me quite angry at how maintaining rampant house price inflation is now (unwritten) policy across the entire political spectrum. If Middle England is the pool of voters political parties seek to please, and for the most part Middle England is lead to believe rampant house price inflation is a good thing, and those that believe otherwise are for the most part younger and disengaged from politics, there's no point even bothering to do or say anything else that doesn't support house price inflation, no matter what party you belong to.
Is there any mainstream politician that has every gone on the record and said how house price inflation is actually not good for this country?
4. Kevin Monk said...
Vince Cable seems to keep a fairly pragmatic view of it all.
5. Debtfree said...
He suggested banks stagger interest rate rises, as well as offer better advice about payment options to beleaguered borrowers. For example, switching some to interest-only loans, he said.
Someone forgot to tell him......"everyone is already on I/O loans"