Sunday, Jun 27, 2010
Don't fear the repo
BBC News: Home "owners" given more help by FSA
Can't have hard working borrowers in bother can we?
Posted by chrisch @ 04:48 PM (1219 views) Add Comment
10 Comments
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1. peter said...
In plain English this means:
"The government is to help feckless people who bought houses they can't afford to hang onto them - at the expense of everyone else."
Thanks Dave and Nick!
Is there +anything+ they won't do to keep the housing bubble infalted?
2. dill said...
What's actually going on is the 'haves' are holding up the strugglers,indirectly, to maintain their own notional wealth. This entire thing is going down. Perhaps for reasons that many wouldn't anticipate. I say no more.
3. simon68 said...
“The Council of Mortgage Lenders (CML), whose members account for 94% of all mortgage lenders in the UK, said 46,000 homes were repossessed last year, the highest number since 1995.”
The FSA anticipates properties repossession to increase and acts accordingly.
I am sure the property repossession may double or even triple that of 46,000 homes in the second half of this year.
4. Downsizingdiva said...
@3 Simon - Why are you "SURE repossessions may double or even triple"? Would be interested to see what you are basing this assumption on.
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6. paul said...
I like your use of quotes there, chrisch.
Not many people get that joke but I've seen the BBC use it all too much.
7. Meltsheep said...
5 years tenure! The housing minister is insane. Why can't private tennants who pay their bills, unlike these over-leveraged speculators, have the same privileges!
8. mark wadsworth said...
"Don't fear the repo" Genius :-)
@ Peter, nope. The Lib-Cons got off to a flying start as well - a complete block on new build; cutting council tax; making the SDLT exemption for FTBs semi-permanent; demanding that state-owned banks lend more to FTBs etc etc. All we need now is to implemenet the loony LibDem idea of replacing council tax with "local income tax" and maybe reintroduce MIRAS and that Home-Owner-Ist tail spin is more or less guaranteed.
But Labour's plan of nicking the Tories' most popular policy (Home-Owner-Ism) seems to have worked a treat - Labour used up all the big money quick wins and so the Lib-Cons are now really scraping the barrel.
9. Crunchy said...
Can't have hard working borrowers leaving banks high and dry can we?
At least not for now. Timing is everything!
One has to be a master at riding the banks and not falling off. :)
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