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Pytyr

Free Money To Mortgagees Reduced

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Mortagees without jobs and already getting money from the taxpayer will now have to find someone else to pay for their holidays as their free money is reduced to merely pay for their house.

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Even after the reduction 50% of claimaints are still receiving capital overpayments courtesy of the tax payer.

Indeed. The mortgagee should be put on a special mortgage on which interest only is paid at an agreed amount for a fixed period of time - say 6 months. Why should any capital repayments be made? If after 6 monthgs the mortgagee hasn't found a job they move to being a repossessee and go onto LHA in a rental that meets their needs. The house gets sold to someone that can afford it.

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Citizens Advice Bureau states the following:

Housing costs payments contribute towards the cost of the interest payments on your mortgage. They may also contribute towards the interest payments on loans taken out to pay for repairs or home improvements. Housing costs payments can't be used to pay off any of the capital of your mortgage.

Housing costs are paid at a standard rate of interest, regardless of the rate of interest you are actually paying.

This means that although there can be cases where housing costs payments are higher than the interest you have to pay, in many cases, the payments will be lower. You will have to make up any difference between the interest due to the lender and the amount of interest covered by the housing costs payments. However, if you can't afford to make up the difference, it might be worth asking your lender if they will just accept the housing costs payments for the time being until you can make up the full amount at a later date.

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Indeed. The mortgagee should be put on a special mortgage on which interest only is paid at an agreed amount for a fixed period of time - say 6 months. Why should any capital repayments be made? If after 6 monthgs the mortgagee hasn't found a job they move to being a repossessee and go onto LHA in a rental that meets their needs. The house gets sold to someone that can afford it.

+1

A 6 month taxpayer-funded breathing space would be more than fair.

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+1

A 6 month taxpayer-funded breathing space would be more than fair.

No, getting nothing is fair, f4ck 'em!

It's nothing but Nanny-state sponsored market manipulation, that distorts true value in the housing market and burdens hard working families in the short term to the benefit of very few (except the banks maybe) in the longer term.

Why should everyone else be dragged down with the sinking ships?

Edited by General Congreve

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No, getting nothing is fair, f4ck 'em!

It's nothing but Nanny-state sponsored market manipulation, that distorts true value in the housing market and burdens hard working families in the short term to the benefit of very few (except the banks maybe) in the longer term.

Why should everyone else be dragged down with the sinking ships?

Yes, Ironically enough I would agree with supporting "hard working families", but that snot gobbling moron used the term to apply to unemployed families!!! If you are out of work, you are not hard working. You are a "potentially hard working family". basically what his twisted policy did was remove the incentive to work from "potentially hard working families" at the expense of "hard working families".

What a clusterf**k that last lot were - I find it difficult to express my disgust for them.

Evil

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Citizens Advice Bureau states the following:

By contrast, the government says:

SMI – excess payments

Some homeowners may have actual interest rates that are lower than the standard rate used to calculate SMI payments. This means they receive more SMI than required to meet the payments due to their lender. These payments can only be credited to their mortgage account.

Source: http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/DG_180321

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Indeed. The mortgagee should be put on a special mortgage on which interest only is paid at an agreed amount for a fixed period of time - say 6 months. Why should any capital repayments be made? If after 6 monthgs the mortgagee hasn't found a job they move to being a repossessee and go onto LHA in a rental that meets their needs. The house gets sold to someone that can afford it.

No. It should revert to a negative amortization mortgage until there is no equity left. This would be like savers having to spend their savings before they can claim benefits.

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...the MEWs are merged with the mortgage ....therefore these payments are paying of the BMW and foreign holidays.... :rolleyes:

Too true, and it makes me so angry.

Makes you wonder, just what is, and what has been, the point of working and being the mugs who pays their taxes, for the last decade? :angry:

And in addition, being the mugs who might of gone without the fancy cars and holidays, to try and save, only to get the paltry interest that we are getting now? :angry:

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Too true, and it makes me so angry.

Makes you wonder, just what is, and what has been, the point of working and being the mugs who pays their taxes, for the last decade? :angry:

And in addition, being the mugs who might of gone without the fancy cars and holidays, to try and save, only to get the paltry interest that we are getting now? :angry:

May be best to take the view that fancy cars and institutionalised holidays aren't all they are cracked up to be and as long as you are able to keep up with inflation (or even not) you are that much closer to escaping the mindless system.

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May be best to take the view that fancy cars and institutionalised holidays aren't all they are cracked up to be

...the issue is the taxpayer are paying for these luxury items.....housing is acceptable...but the rest ....no....another case of Government screw up because they fail to understand the process.... :rolleyes:

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Too true, and it makes me so angry.

Makes you wonder, just what is, and what has been, the point of working and being the mugs who pays their taxes, for the last decade? :angry:

And in addition, being the mugs who might of gone without the fancy cars and holidays, to try and save, only to get the paltry interest that we are getting now? :angry:

Don't get annoyed with fellow brainwashed & manipulated (thru Elite run media) citizens.

Follow the money trail to the City Elites, Boardrooms and (hidden) major shareholders of these companies that have creamed off all the hard cash whilst people have been manipulated into borrowing to fund a "UK-DREAM" lifestyle - often at the expense of losing their own roof off their heads.

"No more boom & bust" was one of the continued brainwashing false messages/promises they had to endure for 10+ years from the UK's leaders!

After the banks were caught with their pants down, still holding the toxic depthcharge CDO's which blew up in their faces - the City/their Govt now take it out on the population with impunity!

Edited by erranta

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whilst people have been manipulated into borrowing to fund a "UK-DREAM" lifestyle - often at the expense of losing their own roof off their heads.

...I'm sure they had their arms twisted ...especially the Jones's ..... :)

"No more boom & bust" was one of the continued brainwashing false messages/promises they had to endure for 10+ years from the UK's leaders!

.....from NuLIEbour...especially Gordo..... :rolleyes:

After the banks were caught with their pants down, still holding the toxic depthcharge CDO's which blew up in their faces - the City/their Govt now take it out on the population with impunity!

...many of the Banks were 'sold a dummy' ...and Governments have been weak in pursuing criminal fraud against many responsible for the missell......they cannot complain until they bring culprits to trial..... :rolleyes:

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By contrast, the government says:

SMI – excess payments

Some homeowners may have actual interest rates that are lower than the standard rate used to calculate SMI payments. This means they receive more SMI than required to meet the payments due to their lender. These payments can only be credited to their mortgage account.

But previous to that, it states:

SMI - what's not included

SMI cannot help you pay:

•the amount you borrowed (only the interest on the mortgage is paid)

•anything towards insurance policies you have

•mortgage arrears

The point being that any surplus credits can only contribute to required monthly interest payments.

I'm not entering into the debate as to the rights and wrongs of all this ( though South Lorne's point on MEW is a good one ) - just clarifying the way it operates, as some people may have the wrong end of the stick.

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...I'm sure they had their arms twisted ...especially the Jones's ..... :)

.....from NuLIEbour...especially Gordo..... :rolleyes:

...many of the Banks were 'sold a dummy' ...and Governments have been weak in pursuing criminal fraud against many responsible for the missell......they cannot complain until they bring culprits to trial..... :rolleyes:

The banking bosses sold out their banks housekeeping money to get hold of these CDO's as a fast buck to a bonus - it was their policies which ultimately destroyed the banks they were prudently meant to be in charge of!

But what the hell do they care sitting on multi-million pound "Golden Parachute" rewards for failure and 10's million pounds pension 'bailouts' as they leave the devestation of the Financial sector and country behind them.

This is the 'culture' that pervades banks in all their top echelons and has been proved time and again by leaked internal emails!

They will destroy countries to keep the bonuses flowing - Satanic Bastards!

I hope the Icelanders imprison their former 'bent' President as an example to the rest of them!

Edited by erranta

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But previous to that, it states:

The point being that any surplus credits can only contribute to required monthly interest payments.

I'm not entering into the debate as to the rights and wrongs of all this ( though South Lorne's point on MEW is a good one ) - just clarifying the way it operates, as some people may have the wrong end of the stick.

The money is paid direct. I guess it's up to the lender how to distribute into various accounts. But the money is paid - honey on the bankers' tongues.

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The banking bosses sold out their banks housekeeping money to get hold of these CDO's as a fast buck to a bonus - it was their policies which ultimately destroyed the banks they were prudently meant to be in charge of!

But what the hell do they care sitting on multi-million pound "Golden Parachute" rewards for failure and 10's million pounds pension 'bailouts' as they leave the devestation of the Financial sector and country behind them.

This is the 'culture' that pervades banks in all their top echelons and has been proved time and again by leaked internal emails!

They will destroy countries to keep the bonuses flowing - Satanic Bastards!

I hope the Icelanders imprison their former 'bent' President as an example to the rest of them!

there has always been something wrong with the city.

they flourish in all events....skimming way over the cost of the job...being Ultra tight was their way...yet profligate with others money.

And the Attitude.......thats what offends.

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But previous to that, it states:

The point being that any surplus credits can only contribute to required monthly interest payments.

I'm not entering into the debate as to the rights and wrongs of all this ( though South Lorne's point on MEW is a good one ) - just clarifying the way it operates, as some people may have the wrong end of the stick.

So what happens to the difference between the amount paid to the bank (6%) and the amount of interest owed if it's less than that? The bank gives it back, maybe? The motrgagee gives it back, maybe? Or are payments made to the bank who distribute the money as they see fit, easiest course just to credit the mortgagees account.

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But previous to that, it states:

The point being that any surplus credits can only contribute to required monthly interest payments.

I'm not entering into the debate as to the rights and wrongs of all this ( though South Lorne's point on MEW is a good one ) - just clarifying the way it operates, as some people may have the wrong end of the stick.

no, you are clarifying what the Government SAYS it should do...the question stands...if there is an overpayment...and its credited to the mortgage account...and there is no interest outstanding....where does it go....answer...it MUST pay down the capital....OR, the bank keeps the capital the same and the recipient benefits from an Interest holiday later on...when he DOESNT need it.

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Yes, Ironically enough I would agree with supporting "hard working families", but that snot gobbling moron used the term to apply to unemployed families!!! If you are out of work, you are not hard working. You are a "potentially hard working family". basically what his twisted policy did was remove the incentive to work from "potentially hard working families" at the expense of "hard working families".

What a clusterf**k that last lot were - I find it difficult to express my disgust for them.

Evil

Well, these were "hard working families" until they were made unemployed. If they still were, they would hardly need assistance. And whilst they were working, presumably they paid tax, a proportion of which went towards supporting the same scheme which they now are accessing. Looks like another form of NI. I'm sure everyone accessing the scheme is living the dream.

However, please feel free to work yourselves into a froth complete with ZaNuLiaBore / Moron Brown / Madman Brown / Gordon B(o)r®own(ing) tortuous neologisms and the rest if it fits more readily into your world view.

Edit - typo

Edited by aussieboy

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Well, these were "hard working families" until they were made unemployed. If they still were, they would hardly need assistance. And whilst they were working, presumably they paid tax, a proportion of which went towards supporting the same scheme which they now are accessing. Looks like another form of NI. I'm sure everyone accessing the scheme is living the dream.

However, please feel free to work yourselves into a froth complete with ZaNuLiaBore / Moron Brown / Madman Brown / Gordon B(o)r®own(ing) tortuous neologisms and the rest if it fits more readily into your world view.

Edit - typo

Idiot boy is back.

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Idiot boy is back.

You have your ad homs down to four words now.

This is good, but it could be better.

If lost two more words, just think: you could have seventy thousand posts of shag all by now.

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  • 259 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%



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