Wednesday, May 28, 2008
Stretching your finances to get on the 'laddder'
Metro: 1.8m ‘cannot pay mortgages’
About 1.8million people will find it hard to pay their mortgage this year, an insurer has warned. More were at risk of losing their homes than in 1992 and have 'failed to learn the lessons' from then, Axa claimed yesterday.
Posted by quiet guy @ 07:30 AM (800 views) Add Comment
11 Comments
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1. sosoon said...
This article is nothing more than free advertising for an insurance company, absolutely shameless
2. Sneaker said...
Buy low, sell high. A good principle.
Where on that scale are house prices?
Hmmm.
Yet it seems, the higher they go, the more people lust after them.
Isn't it weird how in housing it suddenly becomes
BUY HIGH, SELL LOW?
3. growler said...
It is an advert, but I'd rather read this than all the "BTL - path to riches" dross that is also dressed up as journalism filling the newspapers.
4. Ijjhall said...
The Metro is so widely read on the journey into work that these kind of articles are really useful in reminding the masses - who don't log onto this site - how out of control the housing market has been allowed to get and just further reinforces the need for serious readjustment - Can't imagine Kirsty Allsop et al who are desperately trying to lure in the next generation of suckers wants this sort of thing highlighted..
5. Gtrjazz said...
These insurance policies are known to be bad value that’s why there is little take up. In the case of two people paying the mortgage you will only get half the amount if one falls out of work. Even then you can have a couple of month delay before they kick in
Then there are the time limits over one or two years out of work and the payments stop.
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7. planning4acrash said...
Sure, but they are one and the same, flip sides of the same coin, the same financiers/thieves who profited from buy to let will/are finding ways to profit from a falling house market.
8. Chris said...
so who's the cleaver ones?
9. it_is_going_with_a_bang said...
1.
An advert? Have you seen the cost of insuring a mortgage these days...! Alot of people can't afford a repayment mortgage, infact even their own interest only mortgages - without adding to that the prospect of adding an insurance premium.
I think what people would really like is an insurance policy against the general cost of living. But there isn't one ....
10. jack c said...
Axa have a point here - because residential buyers stretched themselves to the limit (in a lot of cases) from an affordability angle, they neglected to purchase the associated Life and Critical Illness insurance and Mortgage payment protection insurance thus leaving themselves/dependants vulnerable in the event of death, serious illness or disability and unemployment. They soon find out the true value of having such plans when something goes wrong or if they did not take such policies wish they had !
11. mark wadsworth said...
What sosoon says, this article is crap. Although I did read it.