Wednesday, Dec 12, 2007
Wow, what a suprise
Telegraph: Mortgage firms hit as repossession fears grow
The mortgage industry has turned the dream of owning your own home into a nightmare f
or many low income borrowers, according to a damning new
report published today by Citizens Advice.
Posted by doomwatch @ 10:29 PM (447 views) Add Comment
5 Comments
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1. lvmreader said...
It isn't just low income borrowers you Telegraph SCHMUKS.
It is high multiple borrowers of every stripe. They are all F***ED.
2. Orwell said...
Sorry,
As someoone who is actually one of te few who do actually earn 3x the salary to earn £150k as a first time buyer .....
3. Borisina said...
Why oh why are MP's Citizen Advice, journalists, broadcasters et al only now waking up to this problem of lending people money to get on the ladder that they have no hope of ever paying back. Right now they are trying to suggest that it is only "poor not too bright with money" people who are facing difficulties, but you know what? it isn't. It is almost all levels of society who are struggling to keep up payments on their mortgage, credit card etc. So many sensible intelligent people swept along in this fraudulent nightmare. Even my dog saw this coming back in 2002.
4. it_is_going_with_a_bang said...
"UK banks lending irresponsibly and promoting mortgage deals inappropriately"
This is news?
"lenders only seek possession when all other reasonable attempts to resolve the position have failed"
i.e. Show me the money!!!! Show me the money !!!! Show me the money!!!
5. Colly Wolly said...
Can no one be responsible for their own actions these days? I was very close to buying a flat a year ago, but after getting the calculator out, and a few simple sums, I realised it was a complete ripp off and prices are unsustainable.
Why then am I to have sympathy for the "homeowners" who were stupid enough to not bother working out if tehy could afford it or not. There is a reason for me not being a "homeowner", but no one has any sympathy for me apparently.