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150,000 Customers At Lloyds Are In Negative Equity

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Given UK prices and this being the Halifax its clearly down to the financially irresponsible oiks oop north overpaying. Buying a whippet and flat Cap is one thing but Northerners should simply never have been given the benefit of the doubt of financial responsibility regarding taking out mortgages

Whats that mean't to mean? You can actually get a house up here for less than £40k if you look hard enough.

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We discussed this on this forum 3 or 4 years ago. My opinion remains the same - there are a lot of thickos out there who think that somehow paying their IO mortgage every month means they are gradually buying their house. I'd love to see how many have any way of paying off the capital without selling the property when the mortgage matures.


Or they just assumed they would start saving at some point to pay it off, but the recession hit and they keep finding that other bills come up.

I'm sure that the mis-selling claims will start in a decade or so..

(And one day, I'll hear someone explain how 'the rise in price of your house will pay the mortgage off').

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Remember many in NE last time around , but after a few years due to high pay rises and interest rates dropping from 15% down to 8% they found their mortgages were becoming less and less of a burden.

Those in NE this time are not going to have the luxury of their mortgage burdens decreasing, infact with pay rises well below inflation rates they are going to see the mortgage becoming more of a burden each and every year.

Also IO mortgages without a repayment plan were almost non existant so those trapped in NE last time also had a small comfort from the fact that they could see a reduciton in what they owed each year if on repayment mortgage , or the money put aside in Endowments ect building up each year.


Edited by miko

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Mervyn King "House prices are a matter of opinion whereas debt is real" (Followed by evil mad laughter and copious hand rubbing)

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  • 293 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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