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topliner

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About topliner

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  1. Equity Release (aka Lifetime Mortgages) These mortgages (Interest Only in effect) were supposed to be the saviour of the over 55's or in most cases the over 60's! (depending on the terms available from lender) They were derived from a simple interest only mortgage but with built in SHIP guarantees to ensure that the debt built up could never exceed the value of the dwelling. Good idea? ... well as long as HPI carried on (don't you know that house prices always grow by 100% within 7 years?) Well has it been a good idea... or not? topliner
  2. It's an interesting concept. Over 55 with masses of debt, nice! ...not. When interest rates were low, did people try to reduce their mortgage balance, did they hell! When endowments were proven to be crap, did they use any excess money they made in bonuses etc to reduce their mortgage balance to compensate, did they hell, they were all quite happy to blame their IFA, bank, building society, whosoever would come into the firing line! People should wake up to the fact that the only people interested in their finance and the way they handle their own money and future is THEMSELVES! The politicians, financial commentators have been shouting about a pensions meltdown for years and I mean 20-25 years as far as I can remember. I worked in the financial industry as it is called now and I made it a point to keep my mortgage at a reasonable level all the time I had one, sure I had a shortfall with the endowment, but it didn't matter a jot, I paid my mortgage off 10 years early anyway. When the endowment "matured" even with its shortfall, I bought something nice with it as the mortgage had gone. Now I don't profess to be the sharpest knife in the drawer, but I took control of my finances when I was about 10 years old, when my Dad suggested if I wanted something I should bloody well save up for it! I'm a boomer, born it the very late 1950's. I have no mortgage, no debt other than what is on my credit card which I pay off every month and have done so since 1984!! The credit card companies probably have a name for me no doubt! All I can say to the over 55's with massive debt is TOUGH! You only have yourself to blame! Stop bitching about it! topliner (edited for spelling mistakes!)
  3. You make a good point there...India...of course, we the taxpayer, bail out RBS, then they use our money to release workers, some 27,000 of them onto the dole queue..and then employ folks in Mumbai to do the work cheaper. Cunning Stunts! How many Change Management Managers positions have they created since the bail out, I wonder? topliner
  4. Hold on a minute. I understand the banking crisis and bail outs and therefore Royal Bank of Scotland has to shed about 30,000 +- jobs, but Standard Life was an Assurance/insurance company that turned PLC. What is their problem? Is it the Pensions Crunch they are predicting by shedding jobs now to cover the future or what? Enlightment request please! topliner
  5. You didn't fall for that old gag did you? They are so smug in Edinburgh aren't they?... they always think that: "come what may they will be OK"! topliner
  6. http://www.bbc.co.uk/news/uk-scotland-edinburgh-east-fife-11152634 Standard Life to axe 500 jobs over 15 months, 90 day consultation begins. topliner
  7. EA's really need to get a grip of the situation, there is simply not the same volume of money going around the system and Edinburgh prices were always over inflated IMHO. Why do you think Northern Crock's "together" mortgage was so popular in the Edinburgh area?... Because the punteros borrowed the full 125% or thereabouts (there were limits of £30,000 unsecured debt if I remeber correctly) and used it to ramp prices even higher! Hence Edinburgh pwoperdee prices SOARED! topliner
  8. and then...Woosh and the savings are gone! What then? topliner
  9. http://www.bbc.co.uk/news/magazine-11002344 Link to BBC news website. Well is it really over? topliner
  10. No doubt that names and places have been changed to protect the anonymity of the mumsnetters depicted in these stories of "keeping face"? topliner
  11. Still on the subject of Northern Rock, I was told (from a very reliable source) and I think it has been press reported that 1200 of their employees are being TUPE transferred to Bradford & Bingley from the NRAM "Bad Bank" and they are facing around 650 redundancies from both voluntary to compulsory groups in the "good bank" part by the end of September time. I wonder what that will do long term. I suppose that is to make "good bank" look a better buy in the private sector? topliner
  12. I know its not local government, but will this do? http://www.bbc.co.uk/news/technology-10851273 with compliments: topliner
  13. http://www.bbc.co.uk/news/business-10803227 Well, could it? Interesting! topliner
  14. Mr. Spin...Which part of the government do you work for and are you in line for a big payoff soon? topliner
  15. Remember Stakeholder Pensions? I remember their launch, an IFA (salesman by another guise) told me they were crap because they "didn't pay enough broker/introducer commission, how could they possibly sell them to the masses"? Tells you something doesn't it? topliner
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