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Mortgage Benefit Cuts Mean Thousands Could Lose Their Homes

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Look at this prat.

http://www.mirror.co.uk/news/politics/2010/11/17/mortgage-benefit-cuts-mean-thousands-could-lose-their-homes-115875-22720941/

Despite retiring last year the 68-year-old is still saddled with a whopping £150,000 home loan.

He has already cut his outgoings to meet mortgage payments by sleeping in a coat to save on heating and buying food near its sell-by date.

But after the ConDems slashed a mortgage lifeline payment, Mr Rudland says the only way to escape the poverty trap is to sell his home.

...

That is what happened to Mr Rudland, of Rustington, West Sussex, who got an interest-only mortgage 10 years ago after his divorce left him having to find the money for a new home.

For Mr Rudland, it means having to find £480 each month to make up the rest of his £600-a-month mortgage.

“I could just about cope before,” said the retired property sales agent. “You cut back on food, you juggle bills and I put on extra layers and sleep in a sleeping bag at night.

“I’m really worried about the rise in VAT but if interest rates go up I’ll have to sell or go into rented accommodation. If I can’t sell quickly, then they will take the place and I’ll be left homeless.”

So, why get an interest only mortgage 10 years from retirement with no repayment vehicle?

In fact why get such a huge mortgage at all so close to retiring?

What did he think would happen when he could no longer work?

Why did he give up work when he had a mortgage to pay?

What gives him the right to have his mortgage paid for him, by me (including capital!)?

Why not not just sell the house and downsize to somewhere smaller and affordable? £150k would have bought a considerable property ten years ago.

And the best bit, he used to be an estate agent! :D

Edited by Pent Up

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So, why get an interest only mortgage 10 years from retirement with no repayment vehicle?

In fact why get such a huge mortgage at all so close to retiring?

What did he think would happen when he could no longer work?

Why did he give up work when he had a mortgage to pay?

What gives him the right to have his mortgage paid for him, by me (including capital!)?

Why not not just sell the house and downsize to somewhere smaller and affordable? £150k would have bought a considerable property ten years ago.

And the best bit, he used to be an estate agent! :D

this is a great bit , these are the sort of things that should be happening, i hope to see lots more out soon

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This all sounds a bit too contrived to me or just proof of how soft society has become. This pathetic specimen is posing for the cameras underneath his sleeping bag. Does he have no shame? No wonder his wife left him; she probably had enough living with this tosser or just perhaps she was too embarrassed having to live in Rustington a.k.a. Littlehampton.

Savers and taxpayers are subsidising thousands of these cretins.

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This all sounds a bit too contrived to me or just proof of how soft society has become. This pathetic specimen is posing for the cameras underneath his sleeping bag. Does he have no shame? No wonder his wife left him; she probably had enough living with this tosser or just perhaps she was too embarrassed having to live in Rustington a.k.a. Littlehampton.

Savers and taxpayers are subsidising thousands of these cretins.

Don't forget the huge pile of bills in his hand!

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Don't forget the huge pile of bills in his hand!

could be the hire purchase on his nice living room furniture...

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Your all heartless wretches.

This poor old man worked hard all his life as a highly valued estate agent. They don't get much pay you know and they are the heart of this country. If we aren't willing to buy them the house that they chose upon their retirement then they will all leave the country, enticed by the better pay and conditions in other countries such as Switzerland.

We need these people and they make our economy, so come on you nasty nasty people. Support our hard working retired estate agents.

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Don't forget the huge pile of bills in his hand!

That's probably hate-mail from HPC users and his wife. Hopefully there's a sleeping-bag catalogue in one envelope. I'd opt for a nice down mountaineering bag if he's going to be serious about keeping warm.... outside. You wonder how some people make it to such a great age without a brain...or growing a pair.

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Your all heartless wretches.

This poor old man worked hard all his life as a highly valued estate agent. They don't get much pay you know and they are the heart of this country. If we aren't willing to buy them the house that they chose upon their retirement then they will all leave the country, enticed by the better pay and conditions in other countries such as Switzerland.

We need these people and they make our economy, so come on you nasty nasty people. Support our hard working retired estate agents.

Go on then, where do I send my cheque. It's a well-known fact that West Sussex is the most deprived county in England........ hang on it says 'retired', I thought it said 'retarded'. Cancel the cheque.

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1. So, why get an interest only mortgage 10 years from retirement with no repayment vehicle?

2. In fact why get such a huge mortgage at all so close to retiring?

3, What did he think would happen when he could no longer work?

4. Why did he give up work when he had a mortgage to pay?

Answers:

1. Because house prices double every 7 years so he would sell up and move to Spain with the profit

2. Because renting is dead money

3. See (1)

4. So we could pay it for him

Y

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So, why get an interest only mortgage 10 years from retirement with no repayment vehicle?

I suspect he rented for years hoping for a crash, and when he finally gave up he was only 10 years from retirement. A story a lot of you will end up being personally familiar with I suspect. :D

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Worse still is the Mirror going for it!

Are they bonkers? Why do I have to pay for this guy's mortgage?????????????????????!!!!!!!!!!!!!!!!!!!!

Very frustrating that readers' comments are not allowed there.

But I've found this, below. Please people, let's explain the basics to these imbecile lunatics.

"For comments and questions about Mirror.co.uk email: feedback@mirror.co.uk"

And perhaps this too?

"Online Editorial Mirror.co.uk - Ben Rankin +44 (0) 207 293 3396 ben.rankin@mirror.co.uk "

:angry:

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Good.

He has no right to live in that home. and he has no right to get me to pay for it for him

image-4-for-your-life-money-17-11-10-gallery-561276707.jpg

Oh yes look, shivering in his brand-new "bought-for-TV" sleeping bag, even got a warming cup of cocoa in his hand. Shame he forgot to take his daytime clothes off, makes it look kind of staged?

A parasite. A prime candidate for a bedsit and state benefits.

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I would have more respect for this bloke if he'd blown the 150k on a new Aston Martin and a couple of lesbian-but-don't-mind-threesomes-and-filming prostitutes. His wife would probably have stayed around and he'd be drinking down the pub being worshipped as a diamond-geezer.

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As a retired estate agent, it looks like he's squandered all his money on hair products. This is a very common problem amongst estate agents in general. Hair only ever goes up after all. It looks like now he's going to be relying on bills (at the annual inflation rate of ~10% to boot) to shock his hair into the requisite position. This is the grand daddy of estate agents right there, living the dream.

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Where would this man be living now if he had not been given a £150k loan?

He is living in a property that is above his means and has no way of paying for it.

It is people like that who have helped push the prices up for everyone else. ;)

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:unsure:

:lol:

Around here nicknamed " L. A. "

( little' ampton)

:D

Classic, I've never heard that before. I must remember that. It's like the Inglewood of West Sussex. :lol:

I used to know this irritating woman who lived in Littlehampton but would deny it by saying "I live on the outskirts of Rustington". It was somewhere near a huge Bodyshop warehouse.

I feel depressed even thinking about the place. Now I know the place is full of moaners in sleeping bags I'm reaching for the valium jar. :ph34r:

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I suspect he rented for years hoping for a crash, and when he finally gave up he was only 10 years from retirement. A story a lot of you will end up being personally familiar with I suspect. :D

If we were to stay renting for the next 10 years, and saving at this same rate, in 10 years we would be able to buy it outright. :D

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As a retired estate agent, it looks like he's squandered all his money on hair products. This is a very common problem amongst estate agents in general. Hair only ever goes up after all. It looks like now he's going to be relying on bills (at the annual inflation rate of ~10% to boot) to shock his hair into the requisite position. This is the grand daddy of estate agents right there, living the dream.

This bloke is poor, so he's using his own spunk. Most estate agents are w@nkers so it's a painless transition.

Edited by Xurbia

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:unsure:

Classic, I've never heard that before. I must remember that. It's like the Inglewood of West Sussex. :lol:

I used to know this irritating woman who lived in Littlehampton but would deny it by saying "I live on the outskirts of Rustington".

:lol:

It was somewhere near a huge Bodyshop warehouse.

I feel depressed even thinking about the place. Now I know the place is full of moaners in sleeping bags I'm reaching for the valium jar. :ph34r:

Yes, L. A. is sad.

Seriously though, it is another consequence of the welfare system, a perverted and perverting system. Horrible. A whole town degraded.

.

Edited by Tired of Waiting

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  • 150 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% +
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