Mr. Miyagi Posted August 23, 2009 Share Posted August 23, 2009 Just sat through it again, I can actually remember watching it back in the day. I am shocked to think that this was 6 years ago and it took another 4 years after the programme was aired for the credit crunch to happen. It would be interesting to find the percentage of 'self certification mortgages' (read liar loan) over the last 8 years or so. Quote Link to comment Share on other sites More sharing options...
moesasji Posted August 23, 2009 Share Posted August 23, 2009 Sky has a similar "investigation" dating from May 2008. See: http://news.sky.com/skynews/video/Unplugge...270508_0900.flv Comparison with the older video shows how "advisors" have come up with even more creative solutions to give away large mortgages, including writing fake payslips!!, recommending BTL-mortgage and moving in yourself and bragging about selling mortgages at 10x salary. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 24, 2009 Share Posted August 24, 2009 Everyone should email the link to their mps asking for their comments and ask why nothing was done....mine replied with it was a fsa problem etc etc..pure bull-shit Excellent point. PLEASE - let's all get going on this. Of course - the MPs were right in the thick of all this themselves...... But - this is a good idea. Quote Link to comment Share on other sites More sharing options...
Prof Posted August 24, 2009 Share Posted August 24, 2009 Sky has a similar "investigation" dating from May 2008. See: http://news.sky.com/skynews/video/Unplugge...270508_0900.flvComparison with the older video shows how "advisors" have come up with even more creative solutions to give away large mortgages, including writing fake payslips!!, recommending BTL-mortgage and moving in yourself and bragging about selling mortgages at 10x salary. www.payslipsp60.co.uk/ If you have lost a payslip, or two, why bother asking your employer for a replacement ? Pay for one ! Quote Link to comment Share on other sites More sharing options...
Aidan Ap Word Posted August 24, 2009 Share Posted August 24, 2009 Bump Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 24, 2009 Share Posted August 24, 2009 www.payslipsp60.co.uk/If you have lost a payslip, or two, why bother asking your employer for a replacement ? Pay for one ! It is scandalous that this outfit hasn't been well and truly busted by prosecuting authorities. This just shows how fraud/crime in the UK is endemic - and blithely ignored by those who should be checking it. :angry: Quote Link to comment Share on other sites More sharing options...
Tunnel Vision Posted August 24, 2009 Share Posted August 24, 2009 Through this site I knew this fraud was going on, but seeing it in full glorius "Technicolor" is maddening, even more so to realise its from 2003. Me and my partner have managed to put together 60k in 3yrs for a deposit, AND IT STILL AIN'T ENOUGH!!!!!! With the £800 I pay in rent, converted into a mortgage payment it would mean I could borrow 130K, plus deposit of 60k equals 190K. In my area it buys you a susbtandard 3 bed house far worse than I am renting at the moment. As fast as me and my GF put 2k in the bank houses went up by the same amount. Running to stay standing still. 60k just seems worthless in housing terms, and all thanks to these fukkers and the government. And now the bubble has burst those in charge are doing everything possible to keep the market inflated, and in my area at least, it seem to be working. Repo near me on for 194k, then public notice to say they have received an offer of 185k. Thats like 5% off. House is probably worth 140-130k. Sorry for the grammar etc etc. Rant over, for now. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 24, 2009 Share Posted August 24, 2009 Through this site I knew this fraud was going on, but seeing it in full glorius "Technicolor" is maddening, even more so to realise its from 2003.Me and my partner have managed to put together 60k in 3yrs for a deposit, AND IT STILL AIN'T ENOUGH!!!!!! With the £800 I pay in rent, converted into a mortgage payment it would mean I could borrow 130K, plus deposit of 60k equals 190K. In my area it buys you a susbtandard 3 bed house far worse than I am renting at the moment. As fast as me and my GF put 2k in the bank houses went up by the same amount. Running to stay standing still. .../ You could do a lot of good by sending the link to the video - http://video.google.co.uk/videoplay?docid=...75&hl=en-GB - to ALL your friends - and tell them to send it on to ALL their friends -- and EVERYONE'S MP should be MADE to watch it -- and answer for the LACK OF ACTION...... Quote Link to comment Share on other sites More sharing options...
moesasji Posted August 24, 2009 Share Posted August 24, 2009 Repo near me on for 194k, then public notice to say they have received an offer of 185k. Thats like 5% off. House is probably worth 140-130k. Just an off-topic comment. I am highly skeptical of these "offers" received as it to me appears as a trick that I would think is (or at least should be?) illegal to advertise like this for an estate agent. Rightmove at the moment has a lot of properties that have received an offer and invite people to submit a higher offer. However property-bee shows nicely how these "offers" reduce over time...seems smelly to me. Quote Link to comment Share on other sites More sharing options...
Prof Posted August 24, 2009 Share Posted August 24, 2009 Through this site I knew this fraud was going on, but seeing it in full glorius "Technicolor" is maddening, even more so to realise its from 2003.Me and my partner have managed to put together 60k in 3yrs for a deposit, AND IT STILL AIN'T ENOUGH!!!!!! With the £800 I pay in rent, converted into a mortgage payment it would mean I could borrow 130K, plus deposit of 60k equals 190K. In my area it buys you a susbtandard 3 bed house far worse than I am renting at the moment. As fast as me and my GF put 2k in the bank houses went up by the same amount. Running to stay standing still. 60k just seems worthless in housing terms, and all thanks to these fukkers and the government. And now the bubble has burst those in charge are doing everything possible to keep the market inflated, and in my area at least, it seem to be working. Repo near me on for 194k, then public notice to say they have received an offer of 185k. Thats like 5% off. House is probably worth 140-130k. Sorry for the grammar etc etc. Rant over, for now. I had to save about £5K, and borrow about a quarter of what you could borrow to by a "substandard" 2 bedroom house, that was about 15 years ago. In theory I should be quite pleased for myself, I suppose I am more relieved than anything. The thought of saving £60K, just to put down as deposit, then having a £130K mortgage on top, just to get something modest is beyond me. I feel angry for you, I really do. It`s a ******* disgrace the way the UK property market has been allowed to become so distorted by greed, fraud and media manipulation. And I bet you are even more annoyed, every time Haliwide report another 1 - 2% increase in the cost of the average house. In theory, that makes the vendor of your potential purchase want another couple of £k, because it said so on the news. Grrrrrr ! I`m quite angry now, and I was having a relaxing day :angry: It`s ***** outrageous. :angry: :angry: Quote Link to comment Share on other sites More sharing options...
Where is my pen? Posted August 24, 2009 Share Posted August 24, 2009 2003 was the year I sold my last house. In CA--18 months too soon if I wanted the "peak" but I am now basking in the wisdom of that choice.IMO we have only seen the start of the consequences to be paid for Brown's decade of imprudence. But houses are shed loads more expensive now than in 2003 ? Quote Link to comment Share on other sites More sharing options...
Mr. Miyagi Posted August 24, 2009 Share Posted August 24, 2009 It is scandalous that this outfit hasn't been well and truly busted by prosecuting authorities. This just shows how fraud/crime in the UK is endemic - and blithely ignored by those who should be checking it. :angry: Your absolutely correct Eric Section 7 of the Fraud Act 2006 makes it an offence to make, adapt, supply or offer to supply any article knowing that it is designed or adapted for use in the course of or in connection with fraud, or intending it to be used to commit or facilitate fraud. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 24, 2009 Share Posted August 24, 2009 Your absolutely correct Eric Section 7 of the Fraud Act 2006 makes it an offence to make, adapt, supply or offer to supply any article knowing that it is designed or adapted for use in the course of or in connection with fraud, or intending it to be used to commit or facilitate fraud. And yet -- Mr James Crosby -- head of HBOS at the time -- is now SIR JAMES CROSBY.... Make of that what you will..... Quote Link to comment Share on other sites More sharing options...
Tunnel Vision Posted August 24, 2009 Share Posted August 24, 2009 I had to save about £5K, and borrow about a quarter of what you could borrow to by a "substandard" 2 bedroom house, that was about 15 years ago. In theory I should be quite pleased for myself, I suppose I am more relieved than anything. The thought of saving £60K, just to put down as deposit, then having a £130K mortgage on top, just to get something modest is beyond me. I feel angry for you, I really do. It`s a ******* disgrace the way the UK property market has been allowed to become so distorted by greed, fraud and media manipulation.And I bet you are even more annoyed, every time Haliwide report another 1 - 2% increase in the cost of the average house. In theory, that makes the vendor of your potential purchase want another couple of £k, because it said so on the news. Grrrrrr ! I`m quite angry now, and I was having a relaxing day :angry: It`s ***** outrageous. :angry: :angry: Sorry to have made you angry. I was just having a little rant lol. The thing is I like to think me and my GF are fortunate by having the means to save a 60k deposit, we've not got flash jobs, we've just gone without for 3yrs and saved everything. I'd like to think it gives us a head start on other FTBs with little or no deposits, and that our deposit would get us something just that little bit nicer.........but no, it doesn't and I can't see why. Has everyone got that kind of deposit?? In the main, I don't think so. In answer to the Haliwide figures, I just don't get it. The reason prices went up is due to the reasons outline in that 2003 video and, as scandlous and outrageous as it is, it happened, and there's nothing can be done to change the past. But now the whole thing has fallen apart, which I knew it would, and "the era of free and easy lending" has ended, we're once again seeing reported rises after only modest falls. I still don't get it. And you are right about the vendors wanting another couple of k "cos it said so on the news". Here in Essex, by way of Rightmove and Propertybee, I was seeing regular weekly falls of 5k here and a few k there. However,since the media have been spouting stabilization and the Haliwide figures showing slight rises, the reductions have stopped almost completely. I think we will see falls but not to the extent there would have been had the repos gone to auction and interest rates been higher. If I've hijacked this thread in any way, I appologise. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 25, 2009 Share Posted August 25, 2009 Sorry to have made you angry. I was just having a little rant lol. The thing is I like to think me and my GF are fortunate by having the means to save a 60k deposit, we've not got flash jobs, we've just gone without for 3yrs and saved everything. I'd like to think it gives us a head start on other FTBs with little or no deposits, and that our deposit would get us something just that little bit nicer.........but no, it doesn't and I can't see why.........../I think we will see falls but not to the extent there would have been had the repos gone to auction and interest rates been higher. Hold off buying right now - that would be my advice TV. It's all still to be played out, imho... Quote Link to comment Share on other sites More sharing options...
Prof Posted August 25, 2009 Share Posted August 25, 2009 (edited) If I've hijacked this thread in any way, I appologise. No need to. Good luck in finding a home. BTW. I don`t get it either. IMO, house price falls had only reached about half way, before "influences" took over. If only prospective buyers like yourself could, or would go "on strike" for 12 months. Although a lot of us HPC`ers would advise you to do so, it must be difficult due to the natural desire to want to buy a property, and the relentless media hype - telling you that now is the time to buy. Edited August 25, 2009 by Prof Quote Link to comment Share on other sites More sharing options...
Tunnel Vision Posted August 25, 2009 Share Posted August 25, 2009 No need to. Good luck in finding a home. BTW. I don`t get it either. IMO, house price falls had only reached about half way, before "influences" took over. If only prospective buyers like yourself could, or would go "on strike" for 12 months. Although a lot of us HPC`ers would advise you to do so, it must be difficult due to the natural desire to want to buy a property, and the relentless media hype - telling you that now is the time to buy. This is a reply to Eric as well. Thanks for wishing me luck, I reckon I'm gonna need it. There is absolutley NO WAY that we are putting our hard earned deposit down on a piece of overpriced Sh!t. I refuse to play the game. However, I do need to do something in the next 2yrs as I'd like to be able to pay off any mortgage before I die lol. I am expecting/hoping that the autumn will continue to show falls and that by next summer we will know exactly the true state and direction of the market. I have a sneaking suspicion though, that we will be slightly lower than we are now, but with the same "stalemate" with people refusing to "give their properties away". I have come to realise the true meaning of frustration!!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
displayed to non-members Posted August 25, 2009 Share Posted August 25, 2009 I was quite worried by the EA that couldn't work out 30,000 x 3.5. Why would you even consider financial "advice" from such an oik. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 25, 2009 Share Posted August 25, 2009 This is a reply to Eric as well.Thanks for wishing me luck, I reckon I'm gonna need it. ...../ I have come to realise the true meaning of frustration!!!!!!!!!! Of course - if the Bank of England hadn't been ordered by our sinister Nieu Labia government to TAKE AWAY HOUSE PRICES from the INFLATION figures - just think how different things could have been... The fact the house prices are NOT included in the inflation figure estimations is nothing short of a massive scandal. It is incredible how - you NEVER see/hear ANYONE in the media pointing out that house prices rose 300-400% in the last 10-12 years.... and THIS WAS MASSIVELY INFLATIONARY...... Meanwhile wages went up............. - well.... many people will tell you - barely 15-25% in many cases..... It's a wonder how they got away with this --- it is STAGGERING tbh. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 25, 2009 Share Posted August 25, 2009 Sorry guys and gals-watched half of it but went outside for some fresh air. There are just too many people to prosecute here, countrywide. It would go from the liars themselves right to senior level at the banks. What p!ssed me off was the "mortgage expert" tosser who couldn't multiply 3.25 X 30 grand. His fingers ran out at the 3 times table. Sorry about that tomwatkins.... It is INCREDIBLE to watch, I agree: It takes your breath away.... http://video.google.co.uk/videoplay?docid=...75&hl=en-GB The Writing was On the Wall all that time ago..... Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 26, 2009 Share Posted August 26, 2009 BTW. I don`t get it either. IMO, house price falls had only reached about half way, before "influences" took over. ......./ It's coming - in the winds that blow the "summer" away.... Quote Link to comment Share on other sites More sharing options...
Billy Ballyckz Posted August 26, 2009 Share Posted August 26, 2009 SHiiiT was that 6 years ago ..Fuuuuuuuck Quote Link to comment Share on other sites More sharing options...
Prof Posted August 26, 2009 Share Posted August 26, 2009 It's coming - in the winds that blow the "summer" away.... I do hope you are right, Eric. A few years ago, I "enjoyed" going against the grain, and saying that HPI and the credit binge would come to a nasty end soon. I took heart in the credit crunch, I really thought that things would change for the better. I now find that I really can`t see what`s going to happen next, and I`m a little amazed that the recent "recovery" has come so soon. I`d like to see the crash continue for a while, then for a more honest, sustainable financial framework to emerge. It doesn`t seem like this will happen, but I`ll still hold on to my personal opinions and beliefs on how finances, both personal and nationally, should be managed. One thing that should keep us HPC`ers going - if this recovery in the property market is sustained for a while, and we get back to the price levels of 2007 (or even higher), we`ll soon be poised for another crash, and one where they can`t blame it on the Americans and the credit crunch. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 26, 2009 Share Posted August 26, 2009 (edited) One thing that should keep us HPC`ers going - if this recovery in the property market is sustained for a while, and we get back to the price levels of 2007 (or even higher), we`ll soon be poised for another crash, and one where they can`t blame it on the Americans and the credit crunch. Yup, this is so. I can assure you as night follows day, Prof, that we ain't seen NOTHIN' yet..... AND - If you read the [large number of] comments on the web after media articles about the fantasy "recovery", you will see that large numbers of people are sick and tired of the crapulous spin being shoved in our faces by the Nieu Labia Supporters that dominate the Meedja world... e.g. - http://www.guardian.co.uk/business/2009/au...s?commentpage=3 and this - http://www.telegraph.co.uk/finance/comment...mic-misery.html - Very good. Edited August 26, 2009 by eric pebble Quote Link to comment Share on other sites More sharing options...
GordonBrownSpentMyFuture Posted August 26, 2009 Share Posted August 26, 2009 http://www.guardian.co.uk/business/2009/au...s?commentpage=3 Ha ha. I particularly liked this one: BigB7324 Aug 09, 11:20am So let me get this straight...........Its all over because the institute of chartered accountants, who in effect sells accountancy courses, just before the start of term time says confidence is returning, Me thinks their courses are undersubscribed and their jobs are at stake because no one wants to be an accountant at the moment. As for "confidence", how exactly is that measured........ Q: Having kept your job for this long Mr. banker are you a, very confident, b, slightly less confident, c, marginally confident, d, somewhat confident or e, suicidal. A: D Result professionals are all somewhat confident they are not suicidal. What an absolute crock of Shite. Quote Link to comment Share on other sites More sharing options...
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