Charlie Don't Surf Posted February 24, 2010 Share Posted February 24, 2010 My brother in law and his girlfriend are house hunting. Fair enough you may think. However, my brother in law is a care worker who has recently had his hours reduced and his girlfriend is a mature drama student who is currently racking up student debts. Apparently her brother, who is canny enough to know house prices only go up, is lending them £30k as a deposit. I've been told they have a £100k mortgage arranged. WTF?! £15k joint income, is that legal?? Here's the really funny bit. He phoned my mother in law today, to ask to borrow money (after hardly phoning for the last 2 months) and asked if she thought I might be able to lend him some. LMAO, where to begin?!. I think I'd have as much chance of explaining why it is a very bad idea to buy now to him as to my 3 year old son. Feckless, clueless, muppetry beyond belief! Quote Link to comment Share on other sites More sharing options...
daniel stallion Posted February 24, 2010 Share Posted February 24, 2010 My brother in law and his girlfriend are house hunting. Fair enough you may think. However, my brother in law is a care worker who has recently had his hours reduced and his girlfriend is a mature drama student who is currently racking up student debts. Apparently her brother, who is canny enough to know house prices only go up, is lending them £30k as a deposit. I've been told they have a £100k mortgage arranged. WTF?! £15k joint income, is that legal?? Here's the really funny bit. He phoned my mother in law today, to ask to borrow money (after hardly phoning for the last 2 months) and asked if she thought I might be able to lend him some. LMAO, where to begin?!. I think I'd have as much chance of explaining why it is a very bad idea to buy now to him as to my 3 year old son. Feckless, clueless, muppetry beyond belief! Don't be so rash. I'm sure that the mature drama student will be rubbing shoulders with the impossibly rich and famous very soon. Is that a bit out of order? Sorry. Quote Link to comment Share on other sites More sharing options...
DeepLurker Posted February 24, 2010 Share Posted February 24, 2010 My brother in law and his girlfriend are house hunting. Fair enough you may think. However, my brother in law is a care worker who has recently had his hours reduced and his girlfriend is a mature drama student who is currently racking up student debts. Apparently her brother, who is canny enough to know house prices only go up, is lending them £30k as a deposit. I've been told they have a £100k mortgage arranged. WTF?! £15k joint income, is that legal?? Here's the really funny bit. He phoned my mother in law today, to ask to borrow money (after hardly phoning for the last 2 months) and asked if she thought I might be able to lend him some. LMAO, where to begin?!. I think I'd have as much chance of explaining why it is a very bad idea to buy now to him as to my 3 year old son. Feckless, clueless, muppetry beyond belief! Based on that assumption, it's a wise investment decision. Remember that "prices only go up" is still ingrained in most peoples mind - and there are not many places in the MSM where it is challenged Quote Link to comment Share on other sites More sharing options...
catmandu Posted February 25, 2010 Share Posted February 25, 2010 Pretty sad that we're seeing a few anecdotes of this nature - people can no longer afford to buy at the peak so they borrow from family. Then in 2 years time all the families break up because of big fights over lost money. Don't give him a penny (but be nice about it !) Quote Link to comment Share on other sites More sharing options...
scottbeard Posted February 25, 2010 Share Posted February 25, 2010 Don't give him a penny (but be nice about it !) Indeed The real muppet is his mortgage lender Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted February 25, 2010 Share Posted February 25, 2010 I've been told they have a £100k mortgage arranged. WTF?! £15k joint income, is that legal?? Could you tell us which imbeciles lent them the money on a 15k income, so I can ensure I have no funds lodged with them? Cheers! Quote Link to comment Share on other sites More sharing options...
Ologhai Jones Posted February 25, 2010 Share Posted February 25, 2010 My brother in law and his girlfriend are house hunting. Fair enough you may think. Your brother-in-law... and his girlfriend... Brother-in-law... girlfriend. I think I'm missing something. Quote Link to comment Share on other sites More sharing options...
Neil B Posted February 25, 2010 Share Posted February 25, 2010 A fool and his money...... Quote Link to comment Share on other sites More sharing options...
t350chunder Posted February 25, 2010 Share Posted February 25, 2010 Your brother-in-law... and his girlfriend... Brother-in-law... girlfriend. I think I'm missing something. Step brother? Quote Link to comment Share on other sites More sharing options...
Neil B Posted February 25, 2010 Share Posted February 25, 2010 Your brother-in-law... and his girlfriend... Brother-in-law... girlfriend. I think I'm missing something. Im guessing that the OP's wife has a brother, though this is like one of those riddles in a quiz mag. Quote Link to comment Share on other sites More sharing options...
Lennon Posted February 25, 2010 Share Posted February 25, 2010 Your brother-in-law... and his girlfriend... Brother-in-law... girlfriend. I think I'm missing something. Am I missing something - the OP's wife's brother... and girlfriend Quote Link to comment Share on other sites More sharing options...
Neil B Posted February 25, 2010 Share Posted February 25, 2010 Am I missing something - the OP's wife's brother... and girlfriend Its not very difficult (though this is going off topic a bit)... The OP has a wife, the wife has a brother and the brother has a girlfriend Quote Link to comment Share on other sites More sharing options...
Neil B Posted February 25, 2010 Share Posted February 25, 2010 Or the OP's husband has a brother? Oops sorry yes you are correct. I didnt mean to steriotype. Quote Link to comment Share on other sites More sharing options...
JimDiGritz Posted February 25, 2010 Share Posted February 25, 2010 Or the OP's husband has a brother? The OP has two brothers and only one sister. The OPs wife has 3 brothers and two sisters. The first brother is married. Only one sister is married. Which one? Quote Link to comment Share on other sites More sharing options...
Ologhai Jones Posted February 25, 2010 Share Posted February 25, 2010 Or the OP's husband has a brother? I bet you're good at Sudoku as well, eh? Quote Link to comment Share on other sites More sharing options...
Neil B Posted February 25, 2010 Share Posted February 25, 2010 The OP has two brothers and only one sister. The OPs wife has 3 brothers and two sisters. The first brother is married. Only one sister is married. Which one? This is like one of those crap tests you do for a job.... Half past eight? Quote Link to comment Share on other sites More sharing options...
Roseland69 Posted February 25, 2010 Share Posted February 25, 2010 The thing that makes me go "eh" is... Don't people budget? I mean, get a piece of paper and write down money coming in in one column and then money going out in the other? Because that would be all that is needed for them to see they won't be able to afford it. My only guess is they (and people like them) do but they fudge and bluster and put down £50 a month for food bills or something stupid, to make the sums "fit". They clearly don't go online and check mortgage calculators and click the "what if interest rates went to X%" because if they are scraping by now, imagine if rates went up. It never ceases to amaze me when people only see as far as their nose, in this case "getting a house" and don't look beyond to paying the debt. But worse, who the hell is lending them the money for the mortgage? Are they mad? Is it actually legal? Quote Link to comment Share on other sites More sharing options...
Neil B Posted February 25, 2010 Share Posted February 25, 2010 (edited) The thing that makes me go "eh" is... Don't people budget? I mean, get a piece of paper and write down money coming in in one column and then money going out in the other? Because that would be all that is needed for them to see they won't be able to afford it. My only guess is they (and people like them) do but they fudge and bluster and put down £50 a month for food bills or something stupid, to make the sums "fit". They clearly don't go online and check mortgage calculators and click the "what if interest rates went to X%" because if they are scraping by now, imagine if rates went up. It never ceases to amaze me when people only see as far as their nose, in this case "getting a house" and don't look beyond to paying the debt. But worse, who the hell is lending them the money for the mortgage? Are they mad? Is it actually legal? Im afraid this is the mentality of 20 somethings in the UK. My niece and her boyfriend (oh no Ive started another relationship riddle.....) recieved a lot of pressure from their friends to buy a house 'while they could still get on the ladder' and because prices 'would only ever go up'. All I heard was 'blah blah is buying a house.... and blah blah is buying a house so we have to...' evidently they are now up to their necks in debt and cant afford to go on holidays, eat out or run the car. edit: to add to that they cannot afford to start a family as they just about cover their outgoings on 2 above average wages. Edited February 25, 2010 by Neil B Quote Link to comment Share on other sites More sharing options...
Si1 Posted February 25, 2010 Share Posted February 25, 2010 (edited) My brother in law and his girlfriend are house hunting. Fair enough you may think. However, my brother in law is a care worker who has recently had his hours reduced and his girlfriend is a mature drama student who is currently racking up student debts. Apparently her brother, who is canny enough to know house prices only go up, is lending them £30k as a deposit. I've been told they have a £100k mortgage arranged. WTF?! £15k joint income, is that legal?? Here's the really funny bit. He phoned my mother in law today, to ask to borrow money (after hardly phoning for the last 2 months) and asked if she thought I might be able to lend him some. LMAO, where to begin?!. I think I'd have as much chance of explaining why it is a very bad idea to buy now to him as to my 3 year old son. Feckless, clueless, muppetry beyond belief! Maybe the OP's girlfriend could apply to you for said loan through the medium of mime. And then you could reply likewise by shaking your head from side to side and then enact a tragic death rattle, before suggesting she get some IT skills, in a dramatic finale resembling a hard-working computer analyst in an office. A bit like Scrooge and the Ghost of Christmas Future. Edited February 25, 2010 by Si1 Quote Link to comment Share on other sites More sharing options...
porca misèria Posted February 25, 2010 Share Posted February 25, 2010 Indeed The real muppet is his mortgage lender Nope. It's their shareholders (if any), but mostly it's the taxpayer who gets to bail them out. Quote Link to comment Share on other sites More sharing options...
Concrete Jungle Posted February 25, 2010 Share Posted February 25, 2010 Indeed The real muppet is his mortgage lender The real muppets are the taxpayers who ultimately act as a backstop for the muppet mortgage lender. :angry: Quote Link to comment Share on other sites More sharing options...
Dorkins Posted February 25, 2010 Share Posted February 25, 2010 Im afraid this is the mentality of 20 somethings in the UK. My niece and her boyfriend (oh no Ive started another relationship riddle.....) recieved a lot of pressure from their friends to buy a house 'while they could still get on the ladder' and because prices 'would only ever go up'. All I heard was 'blah blah is buying a house.... and blah blah is buying a house so we have to...' evidently they are now up to their necks in debt and cant afford to go on holidays, eat out or run the car. True, but it's not just the 20somethings. I have had plenty of pressure from 50something relatives to get on and buy, no arithmetic involved, just meaningless advice like "house prices always go up in the long run" and "just think, with the money you're paying in rent you could be buying something instead". I think for a lot of people buying a house is not so much a financial decision involving boring old numbers and pound signs (yawn!), it's more like a religious conversion involving faith and aspiration. Foxtons should employ a priest to baptise you on the day you move in and wash away the smell of renter. Quote Link to comment Share on other sites More sharing options...
Charlie Don't Surf Posted February 25, 2010 Author Share Posted February 25, 2010 Well done to those of you who worked out that I am indeed talking about my wifes brother. He's a nice enough bloke but would probably spend his life in front of the TV if no one told him to get off his ar5e. At 30 and a care worker, I believe he has reached the pinnacle of his career. In short this is entirely his girlfriends idea - which is fortunate as it's her brother lending them the deposit. IMO opinion the sooner they go bankrupt the less painful it will be for them, the alternative is a live of drudgery living in a sh!t house in Shitsville. Hopefully my in laws won't be putting any money up, however, a recent conversation with my mother-in-law was quite enlightening in terms of the mentality and re-enforcement of the home owning mantra. I said house prices were overpriced, she said, well that's what they said when we bought. Without getting out the graphs you can't really argue with that attitude Quote Link to comment Share on other sites More sharing options...
scottbeard Posted February 25, 2010 Share Posted February 25, 2010 (edited) I said house prices were overpriced, she said, well that's what they said when we bought. Without getting out the graphs you can't really argue with that attitude Then get out the graphs. I did it with my parents. I pointed out where in the cycle I bought my house and they bought theirs. Now I am selling my house and they are selling theirs. Edited February 25, 2010 by scottbeard Quote Link to comment Share on other sites More sharing options...
lets get it right Posted February 25, 2010 Share Posted February 25, 2010 Let's face it - the brother in law is right. If anyone still believes house prices can go down when, in the face of a credit crunch and the worst recession since the war they have gone up, then I think you have to question the sanity of people who believe house prices will go down. I want house prices to go down, I'm no longer daft enough to think they will. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.