corevalue Posted June 23, 2009 Share Posted June 23, 2009 Spotted in the Telegraph http://www.telegraph.co.uk/finance/persona...-elsewhere.html So, be prudent, buy what you can afford, and get zilch; overstretch yourself with a dogy lender, and get £25K! Have to stop now to take all of next week's blood pressure meds. Quote Link to comment Share on other sites More sharing options...
50%deposit Posted June 24, 2009 Share Posted June 24, 2009 Spotted in the Telegraphhttp://www.telegraph.co.uk/finance/persona...-elsewhere.html So, be prudent, buy what you can afford, and get zilch; overstretch yourself with a dogy lender, and get £25K! Have to stop now to take all of next week's blood pressure meds. ggggggggrrrrrrrrrrrrrrrrr i hate that!! just give them money. give them money on the way up and give them money on the way down brilliant. fecking fantastic. by the way, do remember to give me nothing at all!!! Quote Link to comment Share on other sites More sharing options...
huw Posted June 24, 2009 Share Posted June 24, 2009 Spotted in the Telegraphhttp://www.telegraph.co.uk/finance/persona...-elsewhere.html So, be prudent, buy what you can afford, and get zilch; overstretch yourself with a dogy lender, and get £25K! This bit is even worse IMO: In a separate move, it has emerged that many borrowers in negative equity are now being offered preferential mortgage deals from the high street banks largely controlled by the Government. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted June 24, 2009 Share Posted June 24, 2009 (edited) Ignore the subprime shit, look at the latter part of the article where it describes how state owned banks are giving preferential rates to those in negative equity or in trouble, clearly an attempt by the government to keep the repo figures down for political purposes. Edited June 24, 2009 by sillybear2 Quote Link to comment Share on other sites More sharing options...
three pint princess Posted June 24, 2009 Share Posted June 24, 2009 Spotted in the Telegraph Makes sense, Work out the interest and capital repayment, bolster your Capital Ratio and let the taxpayer banks handle it under the APS. Avoid further problems with house prices falling. Quote Link to comment Share on other sites More sharing options...
corevalue Posted June 24, 2009 Author Share Posted June 24, 2009 Ignore the subprime shit, look at the latter part of the article where it describes how state owned banks are giving preferential rates to those in negative equity or in trouble, clearly an attempt by the government to keep the repo figures down for political purposes. Exactly. So, what stops me deliberately falling behind on my mortgage, and getting either a £25K windfall, or being allowed to renegotiate for less onerous payments, or perhaps, even both of these. This has moral hazard written all through it, like a stick of seaside rock. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 24, 2009 Share Posted June 24, 2009 In a separate move, it has emerged that many borrowers in negative equity are now being offered preferential mortgage deals from the high street banks largely controlled by the Government. Trying to avoid an even bigger crisis are we? Looks like we up to our neck in the brown stuff. Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted June 24, 2009 Share Posted June 24, 2009 Its just pathetic. There may be "sound" business reasons for individual companies gettign invloved to sort out their own problems, but ultimately its just more sodding around, instead of giving the patient the major operation it so desperately needs. Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted June 24, 2009 Share Posted June 24, 2009 In fact, after reading it through again, I just want to punch something hard. Quote Link to comment Share on other sites More sharing options...
ianeggbert Posted June 24, 2009 Share Posted June 24, 2009 Morning all, I've posted sporadically before, but have always kept up with things in here as, despite some of the more extreme & radical posts and posters, I tend to agree with alot of the bearish observations and forecasts that are made. Anyway, my point is, that I like to think I'm an honest, self employed mortgage broker who has now decided enough is enough and am knocking it all on the head for many reasons (generally because my ethics & moral standpoint seems to be increasingly at odds with what's happening in the financial services industry). The final straw though was an existing customer has been offered £32,000 to leave their lender - I couldn't remortgage them for a number of reasons (adverse credit/ income stretch/ affordability etc) and yet theyve been put on to an "appointed company" by the lender who has magically found a deal for them!!! It's a brave decision to give up because due to the lack of business over the last 18 months I'm struggling financially and am now relying on my savings to keep afloat, BUT, this is the straw that broke the camels back Wish me luck! Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted June 24, 2009 Share Posted June 24, 2009 (edited) Morning all,I've posted sporadically before, but have always kept up with things in here as, despite some of the more extreme & radical posts and posters, I tend to agree with alot of the bearish observations and forecasts that are made. Anyway, my point is, that I like to think I'm an honest, self employed mortgage broker who has now decided enough is enough and am knocking it all on the head for many reasons (generally because my ethics & moral standpoint seems to be increasingly at odds with what's happening in the financial services industry). The final straw though was an existing customer has been offered £32,000 to leave their lender - I couldn't remortgage them for a number of reasons (adverse credit/ income stretch/ affordability etc) and yet theyve been put on to an "appointed company" by the lender who has magically found a deal for them!!! It's a brave decision to give up because due to the lack of business over the last 18 months I'm struggling financially and am now relying on my savings to keep afloat, BUT, this is the straw that broke the camels back Wish me luck! Ian- thank you for your honesty. Just a thought, is there any possible pressure/action group to be considered, by ex- agents in exactly the same situation as yourself. Start some sort of website along the lines of Guy Fawkes, and post all the dodgy deals, underhand dealings and policies? of course NOW would be the time to do so, as we are having the huge Westminster "clean up" and wouldnt it be so sweet to see all those chickens and bad eggs coming home to roost! Edited June 24, 2009 by KingCharles1st Quote Link to comment Share on other sites More sharing options...
Guest Parry Posted June 24, 2009 Share Posted June 24, 2009 Morning all,I've posted sporadically before, but have always kept up with things in here as, despite some of the more extreme & radical posts and posters, I tend to agree with alot of the bearish observations and forecasts that are made. Anyway, my point is, that I like to think I'm an honest, self employed mortgage broker who has now decided enough is enough and am knocking it all on the head for many reasons (generally because my ethics & moral standpoint seems to be increasingly at odds with what's happening in the financial services industry). The final straw though was an existing customer has been offered £32,000 to leave their lender - I couldn't remortgage them for a number of reasons (adverse credit/ income stretch/ affordability etc) and yet theyve been put on to an "appointed company" by the lender who has magically found a deal for them!!! It's a brave decision to give up because due to the lack of business over the last 18 months I'm struggling financially and am now relying on my savings to keep afloat, BUT, this is the straw that broke the camels back Wish me luck! Good luck! What are you going to do next? Quote Link to comment Share on other sites More sharing options...
SarahBell Posted June 24, 2009 Share Posted June 24, 2009 Good luck!What are you going to do next? I hope they are going to put full details of everything they know in writing to the papers and the opposition. The mortgage industry needs being dipped in a bath of acid at the moment. Quote Link to comment Share on other sites More sharing options...
xux42 Posted June 24, 2009 Share Posted June 24, 2009 Exactly. So, what stops me deliberately falling behind on my mortgage, and getting either a £25K windfall, or being allowed to renegotiate for less onerous payments, or perhaps, even both of these.This has moral hazard written all through it, like a stick of seaside rock. My guess would be - you don't have sh1t for brains and don't want fvcked finances holding you back in better times? Short of changing their identity these 'paid to move' nomarks had shot their bolt and will never amount to anything. Come to think of it change of identity wouldn't help: "Great business plan, Mr Everythingitouchturnstoturd, all we need now is some bank statements and references covering the period 2004-2009". "Oh...erm...err...yes, about that..." Quote Link to comment Share on other sites More sharing options...
nixy Posted June 24, 2009 Share Posted June 24, 2009 In fact, after reading it through again, I just want to punch something hard. What? ..... something like a prime minister perhaps? Quote Link to comment Share on other sites More sharing options...
erranta Posted June 24, 2009 Share Posted June 24, 2009 (edited) Morning all,I've posted sporadically before, but have always kept up with things in here as, despite some of the more extreme & radical posts and posters, I tend to agree with alot of the bearish observations and forecasts that are made. Anyway, my point is, that I like to think I'm an honest, self employed mortgage broker who has now decided enough is enough and am knocking it all on the head for many reasons (generally because my ethics & moral standpoint seems to be increasingly at odds with what's happening in the financial services industry). The final straw though was an existing customer has been offered £32,000 to leave their lender - I couldn't remortgage them for a number of reasons (adverse credit/ income stretch/ affordability etc) and yet theyve been put on to an "appointed company" by the lender who has magically found a deal for them!!! It's a brave decision to give up because due to the lack of business over the last 18 months I'm struggling financially and am now relying on my savings to keep afloat, BUT, this is the straw that broke the camels back Wish me luck! Ian Liar Loans > dish the dirt please. GO on - you know you want to! Edited June 24, 2009 by erranta Quote Link to comment Share on other sites More sharing options...
kara gee Posted June 24, 2009 Share Posted June 24, 2009 Morning all,I've posted sporadically before, but have always kept up with things in here as, despite some of the more extreme & radical posts and posters, I tend to agree with alot of the bearish observations and forecasts that are made. Anyway, my point is, that I like to think I'm an honest, self employed mortgage broker who has now decided enough is enough and am knocking it all on the head for many reasons (generally because my ethics & moral standpoint seems to be increasingly at odds with what's happening in the financial services industry). The final straw though was an existing customer has been offered £32,000 to leave their lender - I couldn't remortgage them for a number of reasons (adverse credit/ income stretch/ affordability etc) and yet theyve been put on to an "appointed company" by the lender who has magically found a deal for them!!! It's a brave decision to give up because due to the lack of business over the last 18 months I'm struggling financially and am now relying on my savings to keep afloat, BUT, this is the straw that broke the camels back Wish me luck! Hi Ian, My blood boils just reading about it, so being on the front-line of this criminal financial system we have, may have tipped me over the edge and turned me into The Hulk, wanting to rip heads off. Agree with above poster, wou should document and report these sort of activities, write to the papers, mp's etc (not sure what good will come of it) but if you stress that the insanity has forced you into quitting on moral grounds, maybe someone might take notice. Good luck with with everything KG Quote Link to comment Share on other sites More sharing options...
ianeggbert Posted June 24, 2009 Share Posted June 24, 2009 Hi all, In response to your posts, I'm currently training to be a hypnotherapist & stress counsellor (believe me it's helped!!) - I've got a fair way to go before I can earn any money from it, but at least I'll be helping people! As far as dishing the dirt etc, yes, it would probably be an interesting proposition, but I just want to walk away from this whole shi55y & corrupt industry and shut the door on it. Maybe going public would dig up such a big can of worms I'll be getting hounded by men in black - or worse - and I'm not going to put my family through that. (I've been watching too many films I think! :-) Quote Link to comment Share on other sites More sharing options...
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