Berk-hater
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Posts posted by Berk-hater
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Is it worse than a defaulter getting bailed by the taxpayer...ie, everyone else pays the mortgage when the debtor cant....
Ummmm, I think in this case they've both been bailed out by the taxpayer.
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If a bank can strategically default, why cant a real person?
They can, but they're both bad.
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Good question, here's the answer. When HBOS realised I was going into a DRO and made the 'full and final settlement' (but with a bad note by my credit rating still) of 6k instead of 15k my mother was desperate to pay it off for me but that was only a few months after the bail outs and QE so I said f*ck em, they knew the risk and went into it "with their eyes wide open" - and lloking at the tens of billions in taxpayer-funded bonuses I don't regret refusing my mum's offer for a second. Now if all this had happened pre '08 I'd have paid it back but the sham of free markets hit me like lightening in '08.
Are banks not businsses? Do the bankster apologists here never want them to lose unsecured monies? Funny how deeply ingrained this thinking is. I lost, bank lost but you guys think I lose, bank win. Interesting, most interesting.
Mmmm, interesting philosophy you have. Enjoy Lyon and try to remember that when you want to come back to the UK in future years the banks might well say "****** 'im" when you want to borrow some money and the benefits office might say "****** 'im" when you want a bail out of your own.
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Oh get over yourself with your righteous indignation - you probably read the Daily Mail too. My main reason for posting the anecdote was as a guide to others here who have unsecured loans and are worried that they can't pay them back - there is very little the lender can do apart from trash your credit rating (which if you've defaulted they'll do regardless).
Actually, you very neatly encapsulate the problem with Anglo-Saxon Britain, especially amongst the lower-middle classes; a non-questioning faith in 'the system', whether it be banks or any type of authority. Anyway, thank goodness I'm leaving this country behind as my parents are giving me an advance on my inheritance and so I'm buying a place in Lyon - mortgage free to allay the oh-so-boring posters kvetching about credit ratings, mortgage refusals etc.
How interesting to note there are still many on here who seek to excuse the banksters, bail outs and taxpayer funded bonuses.......or are they too busy harrumphing into their Daily Mails.
Why didn't you get some of the advance from your parents to pay off your debt?
(Ah, I just realised, it was a scam by your parents to get you out of the country so they could enjoy the rest of their lives knowing that you would never be able to come back to the UK and have a meaningful life here! If they'd paid off your dept for you you'd have still been hanging around waiting for them to drop dead so you could have their hard earned money wthout having to work for it; and you'd have still had a good credit rating with which you could have got more debt, possibly registered at their address. This way they've managed to essentially buy you off! Guess they set the moral standards for you.)
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Tell me, if your income is £16k pa gross, which is probably about average in Boston, would you be able to afford to buy a £110k house if you were a FTB now? I only ask because I think this is the end of the market which is the most stagnant at the moment in your area and I'm curious to know who you think will be buying your current house?
In answer to your original question: All the 4 bed detached houses (new build estate types) on the market now for circa £180k will be down to £150k by Xmas 2011 (That's less than a 20% drop). My advice would be to get some chump to buy your 3 bed semi for £110k now, put the money in the bank, rent for 18 months and then buy your 4 bed detached for cash.
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I really dont understand this obsession with having more women in the cabinet etc. people should be there on merit whether black, female, gay, posh, common or whatever.
I dont care who these people are so long as they do a good job and I am tired of all the time wasted debating this issue.
Hear here
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Just because they advertise the rate doesn't mean they'll give you the mortgage. It's very easy to turn down every single application when you can hide behind
the "computer says no" excuse.
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Surely if it's their "pension" they simply hold on to the asset and rent it out for income which would be taxed like everyone else's income. Given that pensioners have a tax free allowance of nearly £10k pa already they'd have to be "earning" over £40k pa (above average) before paying higher rates of tax.
Or did I miss something?
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Correct me if I'm wrong but my understanding is this:
Independent investors put their money into this bank because it paid an above average rate of interest. This premium rate of interest reflected the risk attached to the investment. The investment went sour and the UK govt, for political reasons, offered to make good for UK investors, backed by UK taxpayers.
So, having assesses the risk in the market I invested my cash in a "safe" place with a lower return reflecting the lower risk, but now I have to use that money to subsidise those who took a risk because they were greedy.
Finally, Iceland voted against the repayment plan, not because they want to default on their debt, but because Gordon Brown wants to charge them a greedy rate of interest whilst completely f*cking my savings.
Is my understanding wrong?
(P.S. I love hpc)
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I'm with Patfig on this one
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The buying power of couples now that both partners are working pushes the prices
That's such a bad argument. If anything, both partners in a couple are having to work because prices got so massively inflated.
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The consensus among "normal" people is that the "blip" in the housing market is almost over.
In the last 2 weeks I was assured by a woman in her 80's that "you can't go wrong with bricks and mortar" and by a man in his late 50's that "prices will be back to normal soon enough"
Bizarrely they're both right.
The lady in her 80s can only see that she bought her house 50 years ago and it's increased in "value" 100 fold since.
The man in his 50s is right......but he doesn't know that "normal" prices are a long way down from here.
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Off-topic slightly. I wonder how many in the UK live in a modern timber frame home & don't even know it.
Once clad in brick these cheap to heat homes look like any other.
Precisely. And you know why they're built timber frame? Because it's the cheapest option. They're more rabbit hutch than people realise.
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wrong but let me guess about you...you read the sun, are probably a good 4 stone overweight, comb over, bad breath, drive a long distance lorry, 2 weeks in benidorm all inclusive each year
So Joeschmo, let me guess about you, you're slim, good looking, all your own hair, perfect teeth, "work" in an office, 2 weeks in the Seychelles twice a year..............
And yet you have loads of time to swan around an internet forum talking sh*t...............
I guess you either live at home with your mum, or you're the young biatch for the man you described above.
(fag)
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Isn't that an increase?
Ask xcojo! -
No kids (?) and that's the killer.
Do you think £43,600 is a good salary for the area? I'm on similar money in a similar area and think it's a good if not spectacular wage; then I see very modest houses starting at £200,000, BMW/Merc/Audi on every 2nd driveway and wonder if I'm missing something.
I live in Hertfordshire, rent a 3 bed detached bungalow with good size garden, drive etc., nothing too spectacular, 8 minute walk to the station, 35 mins out of King's Cross, pay maintenance for 1 child, and get by on less than £40k.
I consider myself to be earning more than most, and manage to save money. If I was earning the sort of six figure salary so freely mentioned in this thread I'd be stashing it away and retiring very early.
I don't know what people are spending their money on. I watched economy gastronomy last night, and the family they featured in the programme were spending £320 a week on food. Apparently next week's family spend £21,000 a year on food. How the fvck can that possibly be representative of average UK family budgets? Is there a big secret stash of cash that everyone has free access to except me?
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XCOJO please explain why you're here?
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thats a different question altogether. and gogle is not a reliable source imo.
Google is not a source. It's a tool for finding sources.
Please explain to me why this is a different question?
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Spain have had a decent collpase... but I reckon theres much further to go there and some sellers are still in dreamland over what they think they'll get.
Why would you take that view about Spain but not the UK?
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Strangely it's about the house price crash in the UK.
The rules are simple, muppets post stupid questions for the enlightened to laugh at.
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If prices fell another 30-40%, besides this being good for a l;ot of ftb's (such as me). Why would this be good for the country?
I was reading the thread on average wage drops and it suddenly struck me that maybe it wouldnt be such a good thing. any thoughts??
Why not just type "benefits of affordable housing" into Google? Then actually read the results.
Then do a search on "benefits of unaffordable housing".
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Interesting topic. Even more interesting that nobody really has any sensible answer.
Most people around here want to see a price crash so they can get something for nothing.
Greed - there's your answer.
I love your posts, they're so funny!
The greed is with the seller, not the buyer.
You seem to get everything back to front. For goodness sake don't go and look at the "aneros" thread, you might go and buy one and put it in your mouth. (Actually, thinking about it............go and buy an aneros)
P.S Aren't you supposed to be signing on today?
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Oh that's settled that then. Quick tell the worlds top economists... *yawn*
In case it's passed you by house prices have in fact been going up.
Why don't you tell the world's top economists about the theory you put forward on the "FTSE100 to 3,000" thread?
Confessions Of A Debtor
in House prices and the economy
Posted
I'm not suggesting anyone should be bailed out by the taxpayer!
But the banks were, not that I agree with it. But by defaulting on his loan from the banks the OP has not "got one over the banksters"........ he's joined them.