Jump to content
House Price Crash Forum

Banks Should Offer 'mates Mortgages' So Friends Can Buy Together .


Recommended Posts

0
HOLA441

+1

He needs to go. As utterly clueless as the last lot. And encouraging the young and naive to overpay for clearly overvalued assets, which they will be unable ti upgrade from when prices fall, and a life of debt misery. C***s.

Strangely I suspect he will go in a reshuffle, but upwards not downwards. Apparently the opinion appears to be he is a 'rising star', FK why though.

Edited by cheeznbreed
Link to comment
Share on other sites

  • Replies 61
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

1
HOLA442

Another dirty VI tosser.

I won't be staying in the UK either. Everyone has lost the plot these days and it is so, so pathetic to watch.

Why should anyone work for a country that can't provide housing at a price the majority can afford, earning £25 to £40k a year.

I find it ludicrous. :unsure:

Link to comment
Share on other sites

2
HOLA443

It's looking like I'm going to have no choice but to leave. Something has gone badly wrong in this country.

Can someone who lived through GC1 reassure me that this is the type of crap TPTB were pushing just before the housing market fell off the precipice? Bear losing faith here.

Yep. I have a new job starting with a French company in the UK (this is my exit strategy). I will be moving away from London, which means house prices are only mental (as opposed to bat shit insane), and consequently will be looking to blow my deposit on a house should the right thing come along (this is my stay in the UK but GTFO of London strategy). I too am losing faith rapidly, and very nearly bought a house recently, as I see my deposit eroding, and adding to it becoming harder, due to inflation.

Link to comment
Share on other sites

3
HOLA444

In the red corner - the shylock party, in the blue corner the shylock party.

David Hollingworth, of the independent adviser London & Country, said the proposal was ‘absolutely full of risks’.

'Full of risks': Critics of the scheme suggest that friends have enough problems sharing flats and it will only get worse if they have a mortgage to worry about

When brokers themselves are pointing out the obvious downfalls of this sort of arrangement you know how bad a scheme is.

Jeezzzz I am SICK & TIRED of all this..... :angry: :angry: :angry:

This Schapps guy has turned out to be a F*CKING MORON. :angry: :angry: :angry:

Link to comment
Share on other sites

4
HOLA445

my, these tories are innovative chaps indeed, its a shame they werent in charge in thre noughties to surely adopt measures to stop the banking mortgage debt expansion after setting the ball rolling in the 80s

"You are all in it together".

Link to comment
Share on other sites

5
HOLA446

Although the signs have been there for some time, I think this latest pronouncement finally marks the day in which we can safely label the housing minister a complete tool.

Not really. It's sort of fascinating to watch. They know that a HPC would trigger off all sorts of consequences, both known and unknown. I think they also know that at some point it's going to happen whether they like it or not. I think, interestingly, they know they're probably making it worse*, but they just can't stop and keep telling themselves "maybe something we don't expect will happen and save us if we can just keep it going a bit longer."

Personally, if I was a government, I'd be looking to team up with other nations for a nice big all-together-now default.

* or are they? They have one bunch already in debt - if they can drag in a new crowd to essentially share the load then they might think of that as enough of cushion to avoid too much of a hit.

Link to comment
Share on other sites

6
HOLA447
7
HOLA448

Yep. I have a new job starting with a French company in the UK (this is my exit strategy). I will be moving away from London, which means house prices are only mental (as opposed to bat shit insane), and consequently will be looking to blow my deposit on a house should the right thing come along (this is my stay in the UK but GTFO of London strategy). I too am losing faith rapidly, and very nearly bought a house recently, as I see my deposit eroding, and adding to it becoming harder, due to inflation.

You want to get your deposit out of cash if thats where it is. Particularly with bilge like this coming out of parliament.

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

Von Mises

Link to comment
Share on other sites

8
HOLA449
9
HOLA4410
10
HOLA4411
11
HOLA4412

You want to get your deposit out of cash if thats where it is. Particularly with bilge like this coming out of parliament.

Maybe. But without using a word that sound like "sold" or "gilver", where?

I need somewhere for my family to live...

Link to comment
Share on other sites

12
HOLA4413

I honestly don't know whether to laugh or cry. This is our f#cking housing minister and this is the best solution he can find??!

Anyone who has spent any time house sharing in their late teens and early twenties will know how much fun it is and how great a time they had. They will also know how happy they were the day they no longer had to do it because while living with your mates for a couple of years is great it WILL eventually do your head in... not to mention the complications and expense of buying each other out when a friend meets a partner and wants to move out - or worse: wants her to move in. Absolute nightmare.

Or worse still one decides that he/she has had enough and just walks out on the whole thing refusing to pay their share of the debt on a property in NE .

At this point those remaining realize what JOINTLY AND SEVERALLY means.

One thing I have learnt in life is that when it comes to the crunch you can never force another person to do something that they do not want to do. Reading the Bankruptcy threads on MSE there have been more than a few on there who had to go bankrupt as a partner walked out on joint debts or went Bankrupt all the joint debt then fell on the remaining person who had no choice but to declare themeslves bankrupt.

Link to comment
Share on other sites

13
HOLA4414

Innovative

:lol:

Perhaps Grantley could call them 'Together' mortgages, pump them out via his Northern Rock conduit and securitise them. What could possibly go wrong?

He's a VI - Tories are owned by the developers, landowners and banksters.

Link to comment
Share on other sites

14
HOLA4415
15
HOLA4416
16
HOLA4417
17
HOLA4418

On the contrary, he's doing an excellent job of doing what he was employed to do: talk b0llocks, look busy and achieve nothing.

I saw him interviewed on channel 4's 10 o'clock show. Whilst that show has not go the best interviewing style, Mitchell interviewed him and was ok, but Shapps came across as deeply unimpressive.

Link to comment
Share on other sites

18
HOLA4419
19
HOLA4420

Do you honestly believe that he thinks this is the solution to the whole issue ?

I just cannot help thinking he knows its about price and affordability (or lack of) but cannot state this too much without sending the sheeple scrambling for the exits on mass.,

George Osborne and Vince Cable have both used the term housing bubble in recent months so you would like to think they are all on the same page.

When prices were sky high in the States Warren Buffett would refuse to be drawn into considering houses as either expensive or cheap based on all the usual parameters and chose to advise people to just consider them places to live in. Since then, after many areas having experienced 70% declines he has made several references to there being not much more falls remaining in housing.

I just cant see how he could be so stupid so through fear of panicking the masses he spouts pointless drivel such as this.

Link to comment
Share on other sites

20
HOLA4421
21
HOLA4422

'Readers' comments are currently unavailable'

Will they come back or is that it? What is normal?

I've long given up on trying to work out what normal consists of

Coming Soon: Alien Mates Mortgage - outsource your LIAR LOANS to a small green man on Alpha Sigma 3

Link to comment
Share on other sites

22
HOLA4423
23
HOLA4424
24
HOLA4425

...road to disaster...many people are suffering now because they are out of a relationship but fastened in by a mortgage...more misery sought from these morons... :rolleyes:

I continue to have (forlorn) hope that Schapps is following the 4 stage strategy to the hpc as outlined in Yes Prime Minister

In stage one we say nothing is going to happen.

Stage two, we say something may be about to happen, but we should do nothing about it.

In stage three, we say that maybe we should do something about it, but there's nothing we *can* do.

Stage four, we say maybe there was something we could have done, but it's too late now.

Hopefully we're about to hit stage 4.

Link to comment
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...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information