StuB

You mad? Why would you want to give up your job?

Didn't realise that, i did read that you only pay off 30%-40% of the debt. Also people have been paying them off and after 2 years only manage to pay off the company fee's.

I feel for you brother. Mine has a good job but hasn't been in it for long, hence its my money we are risking. If it carries on i am going to suggest we both put in the same deposit so the majority of mine stays in the bank.

Can always get an IVA..... :angry:

Mine wont stop, makes it really difficult for me as i'd be happy to wait till 2010 if necessary, she wants one yesterday. Also a friend was going to MEW for an extension which i don't see any problem in as its adding to the value of the house and there isn't a house in the street like it. He saved the money instead and did it with friends. Friend of his MEW'ed to buy a second hand Alfa Romeo.... oh dear... he bought his house at a good time but 8k on a car thats worth 2k if he's lucky in 2 years.

So the equivalent of cash on the CC attracts a fee of say 2% and the balance transfer costs 2%. Add to that if he misses a payment, which can be quite a lot as you pay off the capital first and then the interest (which keeps growing), minimum payment if your stuck for cash, only pay off the equivalent of the interest. Walking a very fine tightrope..... with his house, not something frivolous like a TV, DVD player or even a car... his house.

I think it is ok for the media to cause fear and panic in the public about rising prices and the consequences of not getting on the housing ladder, however it is not ok for the media to report hose prices falls or mention the crash word. I like this site because it evens out the bias spewed from the media, that is also why people with houses don't like this site. If you own a house and are so bothered about this site, go suck up to the BBC and alike.

Indeed, everything comes to those who wait. :-)

Yes, like the proverbial fallen apple resting on the grass, its skin slightly bruised, will it be picked up by an animal and eaten or slowly rot decreasing in value, forever to be return to the earth from whence it came.

Well i just ate an apple and its the skin thats bitter, the flesh is sweet.

Acceptance? I'd say more like compliance.

Hmmm, right you are yes.

Hence the glut of borrowing. To quote a little green man... "Fear leads to Anger. Anger leads to Hate. Hate leads to suffering."

But you don't understand, its their house. As are all the cost that go with it...

Half are supposed to be new mortgages and half re-mortgages.

Just a guess but aren't the majority of UK society renters?

You could probably add "Fear Selling" and "Greed Selling" to the list.

i agree. "Have you ever wanted something so badly that it possessed your body and your soul through the night and through the day until you finally got it and then you realised it wasn't what you wanted after all?" "Those self same sickly little thoughts then go and attach themselves to something or somebody new and the whole thing starts all over again". What remains is you still gotta pay it off though!

With reference to respect I am talking about everyone, including myself.

3 things 1. Big Brother was all about the hype, TV ratings were abysmal so they had to do something. Basically it was a contest between 2 control freaks. 2. When Poland joined the EU, of all the European countries only 3 did not force restrictions on numbers. Sweden, Ireland and the UK. All the rest had a restriction on numbers. 3. If i go to another country i behave as they do, with respect. I only expect the same.

Seen this? http://money.uk.msn.com/Mortgages/BuyToLet...umentid=2617316

Possibly, i'm not sure how it works, they may just be adding to a big mortgage? I appreciate they are new purchases. Can't be that many BTLers buying new property though? This week in the local paper there were 4 flats all in the same house up for sale, vendor used the same picture for all and it looked like a BTLer getting the heck out of dodge.

Heard on the radio that half of mortgage approvals are for new purchases, the other half are for re-mortgages. I think this will change and the majority will be re-mortgages as people who can race to beat the next anticipated rise. Mortgage approvals have always been used to show lots of first time buyers entering the market when this isn't the case. Fear factor.