Jump to content
House Price Crash Forum
Sign in to follow this  
Guest Guy_Montag

Govt. Bailing People Out

Recommended Posts

Guest Guy_Montag

I don't really remember what happened during the last HPC, but did the Govt. end up helping people out during the last crash. What I'm saying is will I end up bailing out stupid people.

Secondly what I do remember is the number of cowboy workmen just before the last HPC, seems history repeats.

Edited by Guy_Montag

Share this post


Link to post
Share on other sites
I don't really remember what happened during the last HPC, but did the Govt. end up helping people out during the last crash.  What I'm saying is will I end up bailing out stupid people.

Secondly what I do remember is the number of cowboy workmen just before the last HPC, seems history repeats.

Nope. Not directly anyway.

They drastically lowered interest rates after the ERM debacle and introduced the Housing Act (1996), which eventually ignited the buy-to-let boom, but I don't recall the government actually subsidising anyone directly.

Nevertheless, a lot of people with huge mortgages do seem to assume the government will help them out this time. IMHO, this 'moral hazard' is a real problem and is the main reason why people aren't bothered by the risks of astronomical debts anymore.

Share this post


Link to post
Share on other sites
did the Govt. end up helping people out during the last crash.

I believe at the time of the last crash the government paid the interest on your mortgage if you lost your job. AFAIAA this is no longer the case:

http://www.jobcentreplus.gov.uk/cms.asp?Pa...AgeBenefits/493

http://www.jobcentreplus.gov.uk/cms.asp?Pa...AgeBenefits/497

http://www.dwp.gov.uk/lifeevent/benefits/m...rest_run_on.asp

http://www.dwp.gov.uk/lifeevent/benefits/housing_benefit.asp

Share this post


Link to post
Share on other sites

Spot on there.

Under the Tories if you were unemployed your mortgage interest was immediately paid. No it was not nice not having a job, but a least your kids had a roof over their heads and food on the table.

The labour party have removed this, Tony Blair has made sure that if you are working class, you would first have to spend all of your savings, you would then have to wait nine months to get your interst paid.

Nobody every gets nine months as they are found a job in McDonalds, if they refuse to take it despite the fact it does not pay their outgoings then they are removed from any benefits.

Remember, Vote Tory if you want low taxes, less people doing non jobs in public services, and an defence that answers to the Government of the day and not George Bush.

Share this post


Link to post
Share on other sites
Spot on there.

Under the Tories if you were unemployed your mortgage interest was immediately paid. No it was not nice not having a job, but a least your kids had a roof over their heads and food on the table.

The labour party have removed this, Tony Blair has made sure that if you are working class, you would first have to spend all of your savings, you would then have to wait nine months to get your interst paid.

Nobody every gets nine months as they are found a job in McDonalds, if they refuse to take it despite the fact it does not pay their outgoings then they are removed from any benefits.

Remember, Vote Tory if you want low taxes, less people doing non jobs in public services, and an defence that answers to the Government of the day and not George Bush.

Hear , Hear.

D :)

Share this post


Link to post
Share on other sites
The labour party have removed this, Tony Blair has made sure that if you are working class, you would first have to spend all of your savings, you would then have to wait nine months to get your interst paid.

Incorrect yet again. It was changed in the 1995 budget by Ken Clarke and took effect from 1/10/1995.

I don't remember him being a member of John Major's New Labour Government but he was part of John Major's Conservative Government of 1992-7.

Share this post


Link to post
Share on other sites

That was the removal of Tax Relief under the Miras Scheme.

The Labour party's first job was to remove the ability for hard working taxpayers to keep their houses if they fell on hard times.

They then removed the employment rights to ensure that companies could offshore working class jobs without being taken to the cleaners, and the Government not having to pick up the bill in the form of benefits.

Face Facts. New Labour are Anti British, they have attacked it from day 1.

If you think supporting the illegal invasion in Iraq is "British" then I'm afraid you know very little of the decent hard working British Families that make up the real Britain today.

The working class can kiss my Ars!!!!. And Blair is singing it like a pro.

Share this post


Link to post
Share on other sites

Could you really stop being such a total idiot and do a google search prior to talking.

http://www.home.co.uk/guides/buying/insurance.htm

http://www.jrf.org.uk/knowledge/findings/housing/H152.asp

clearly states that it was removed in 1995 (when Ken Clarke and John Major were in charge).

Miras was cut at the same time to 15% and then finally killed in the budgets of 1999 and 2000.

Edited by eek

Share this post


Link to post
Share on other sites

Face Facts.

Every civilisation on the planet earth has encountered poverty, and removal of freedom under a Socialst Party.

The answer, smash them into the ground at the next election, or leave the country.

Divide and Rule, the foundations of New Labours Socialist Extremist policies.

Share this post


Link to post
Share on other sites
Guest Charlie The Tramp
I believe at the time of the last crash the government paid the interest on your mortgage if you lost your job. AFAIAA this is no longer the case:

A quarter of a million still lost their homes, and many thousands of those having lost their jobs.

laurejon Posted Today, 06:03 PM

Spot on there.

Under the Tories if you were unemployed your mortgage interest was immediately paid. No it was not nice not having a job, but a least your kids had a roof over their heads and food on the table.

Then if the Tory Government were so generous why did the above happen.

If the Tories were in power today they also would have brought in the nine month rule.

The system was being abused big time. Why work if you can get benefits and have your mortgage interest paid and send the wife out to work full time, while the husband stayed at home to look after the kids. The mortgage was in his name. I know three people who got away with it for years.

Edited by Charlie The Tramp

Share this post


Link to post
Share on other sites

There has been a gradual reduction over the years in the support privided to impoverished owner occupiers. No particular government is to blame, but OOs can still get mortgage interest paid. As long as they apply within 3 minutes of losing their job, the application is supported by their next door neighbour's grandma and they agree to provide sandwiches for the DWP visiting officer.

What I remember from the last crash was the large numbers of clients who came to see me with huge bills from the mortgage company. Loads of people simply walked away from their homes - posting the keys back. Subsquently they became known as the NEGATIVE EQUITY BRIGADE (NEBs).

Mark my words NEBs will return.........soon.

Share this post


Link to post
Share on other sites

What I remember from the last crash was the large numbers of clients who came to see me with huge bills from the mortgage company. Loads of people simply walked away from their homes - posting the keys back. Subsquently they became known as the NEGATIVE EQUITY BRIGADE (NEBs).

Mark my words NEBs will return.........soon.

And many were and still are pursued by the building societies for the outstanding debt

Share this post


Link to post
Share on other sites

What I remember from the last crash was the large numbers of clients who came to see me with huge bills from the mortgage company. Loads of people simply walked away from their homes - posting the keys back. Subsquently they became known as the NEGATIVE EQUITY BRIGADE (NEBs).

Mark my words NEBs will return.........soon.

And many were and still are pursued by the building societies for the outstanding debt

Certainly are. My colleague saw one earlier this week. £25k worth of negative equity debt from 10 years ago.

Share this post


Link to post
Share on other sites
Spot on there.

Under the Tories if you were unemployed your mortgage interest was immediately paid. No it was not nice not having a job, but a least your kids had a roof over their heads and food on the table.

The labour party have removed this, Tony Blair has made sure that if you are working class, you would first have to spend all of your savings, you would then have to wait nine months to get your interst paid.

Nobody every gets nine months as they are found a job in McDonalds, if they refuse to take it despite the fact it does not pay their outgoings then they are removed from any benefits.

Remember, Vote Tory if you want low taxes, less people doing non jobs in public services, and an defence that answers to the Government of the day and not George Bush.

Vote tory if you want your taxes wasted on bailing out people who took out mortages that were too big to handle or were too tight to take out insurance...

:rolleyes:

Share this post


Link to post
Share on other sites

vote labour for "best value" local government fraud. the money wasted in the civil service, local government and the nhs astounds me

Share this post


Link to post
Share on other sites

Only 3 groups will vote for Labour at the next election:

1. chavscum benefit scroungers

2. the army of public sector workers terrified of being turfed off the gravy train

and

3. the sadly misguided still stuck in a 1970's class war who love funding the above

Share this post


Link to post
Share on other sites

Yeah nine months of really having to look for work go to interviews, they actually phone the employer to check you turn up. After 6 months you have to apply for almost any job, not just those you are qualified/ experienced in.

Muaaah ha ha. (wont belaughing if its me though..although as I wont have a mortgage I can join the masses, rent and have all my rent paid for...:) smoke pot again and enjoy growing veggies... mmm why work!!!

Share this post


Link to post
Share on other sites

Yeah nine months of really having to look for work go to interviews, they actually phone the employer to check you turn up. After 6 months you have to apply for almost any job, not just those you are qualified/ experienced in.

All you have to do is walk into the interveiw and say “Any fear of a job mate”

Done

Share this post


Link to post
Share on other sites
Yeah nine months of really having to look for work go to interviews, they actually phone the employer to check you turn up. After 6 months you have to apply for almost any job, not just those you are qualified/ experienced in.

Alternatively dress smartly - but wear a soviet era red star badge on your lapel. Subtly draw attention to it - eg rubbing it like a lucky charm (which it is - against crap jobs) in view of the interviewer. You won't get shopped for appearing unemployable - but no McJob plc is going to touch you with a barge pole.

Share this post


Link to post
Share on other sites
Alternatively dress smartly - but wear a soviet era red star badge on your lapel. Subtly draw attention to it - eg rubbing it like a lucky charm (which it is - against crap jobs) in view of the interviewer. You won't get shopped for appearing unemployable - but no McJob plc is going to touch you with a barge pole.

I remember in the 80's interviewing people for labouring jobs. It was so obvious which ones didn't really want the job and were only there because the JobCentre had sent them. I remember asking 1 guy why he'd left his previous job and he replied "I punched my boss in the face because I didn't like the look of him"

Share this post


Link to post
Share on other sites
I remember in the 80's interviewing people for labouring jobs. It was so obvious which ones didn't really want the job and were only there because the JobCentre had sent them. I remember asking 1 guy why he'd left his previous job and he replied "I punched my boss in the face because I didn't like the look of him"

Reminds me of that scene in Trainspotting where Spud goes along to a job interview whilst high on speed.

He has to give the impression he's trying so he doesn't lose his benefits, but the last thing he wants is to actually be offered the job! :lol:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.