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Hundreds Gather To Stop Cancer Patient Being Evicted From His Home

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300 people gather to block eviction

http://www.itv.com/news/central/2015-01-23/hundreds-gather-to-stop-nottingham-man-being-evicted-from-home/

From the comments on facebook

The bank changed his mortgage without his knowledge, he has paid 120k but turns out is just interest and the original loan of 43k is still outstanding. They have failed to supply him details of the debt. They have acted appallingly but the courts ruled in their favour, the public however are on Toms side.

Edited by workingpoor

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What relevance has cancer got to do with anything?

Did he add a clause in the mortgage agreement saying 'i dont have to pay the principal if I get cancer'

He should be talking to a lawyer if there is an issue with the bank, not raising a mob. If he is in the right, that is.

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'Turns out it's just interest' - wow... let's just write it off.

Mugs who took out Critical Illness Insurance.

Edit: Ah now link has been added, I see it's that guy - already been on hpc.

Edited by Venger

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Not seen any news on it. How much is his house worth? At a guess, if he's paid £120K in interest already, buying at £43K, he probably bought 20-25 years ago (maybe longer). Go for 25 years, buying in 1990... I would guess his house worth £250K-£320? That would be approximate for my area. There is a thing called downsizing.

'Turns out it's just interest' - wow... let's just write it off.

Mugs who took out Critical Illness Insurance.

http://www.dailymail.co.uk/news/article-2704178/Moment-200-strangers-joined-forces-stop-cancer-sufferer-63-evicted-bank-lost-battle-mortgage-payments.html

1988...he took out an endowment mortgage, says they changed it to interest only.

I thought endowment WAS interest only?!

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Last sale on that cul-de-sac was for under £100k...not 250-320, Venger...

It is Nottingham. Having lived in Nottingham id say 100k is still about 50k too much, unless you enjoy the sound of distant police sirens pretty much all night long during the summer when your window is open.

http://www.rightmove.co.uk/house-prices/NG4/Fearn-Chase.html

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Amazing that the bank never told him the loan was INTEREST ONLY. Normally banks provide something called a contract which people read, make sure they understand and then sign. Apparently this was done with the endowment mortgage which was changed to IO without his knowledge by the bank. Sounds like rubbish to me as the courts found in favor of the bank.

Wonder if all these people would support the guy if he rented and was being evicted from his home on the whim of a property investor.

Hard to say...I would have thought if it was incompetence on the banks behalf, lawyers would be queuing up to represent him...you couldnt find a more heart-string pulling case for advertising purposes.

OTOH my own dad is pedantic about all financial issues and has a background in Finance, and they still kept on charging him for his mortgage after it was paid off, and then he found out that for about 10 years it wasnt insured, despite this being arranged with the mortgage, so nothing would surprise me. He knows what to say so sorted it out fairly quickly, but I guess a lot of people dont. Banks are incompetent to a level only usually seen in the public sector...which I guess is why half of them are effectively in the public sector now.

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Ah yes, sounds like he stopped paying the endowment and wonders why he can't pay off the capital.

Perhaps not an isolated case...

http://www.which.co.uk/consumer-rights/action/how-do-i-complain-about-a-mis-sold-endowment

He may have missed the boat though...

http://www.moneysavingexpert.com/reclaim/endowments-miss-sold

Seems a daft mistake to make to me, but then people didnt have the internet back then to research things. One wonders if in 20 years time all the people with IO mortgages today will be pleading 'i was missold'...something which stretches credulity when its actually called 'interest only' rather than 'endowment'

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http://www.dailymail.co.uk/news/article-2704178/Moment-200-strangers-joined-forces-stop-cancer-sufferer-63-evicted-bank-lost-battle-mortgage-payments.html

1988...he took out an endowment mortgage, says they changed it to interest only.

I thought endowment WAS interest only?!

My parents had a with-profits endowment to run alongside a standard repayment mortgage (£30K on a house bought for £36K around 88). They paid off that mortgage out of income and redundancy money. The endowment was set up to help them pay off the mortgage if required, but they surrendered the endowment to pay for... well my dad got problems with his health requiring money, and after his death, mum downsized. Got a surrender value, just before the company announced they were skimming the endowment values of all policyholders, buy they had to honour the sum in the surrender value letter.

.

But Mr Crawford claims the bank told him in 2007 that he would never pay off the loan because there was no record of him taking out the endowment, a type of savings plan designed to repay the mortgage debt

Yeah ES, poor choice of area to buy for HPI riches then, although I would prefer to see all areas as having only had such low HPI. He can still downsize. I was pretty much on it, with my guess of 1990, before the link to the article was added. Does he have no record of endowment paperwork?

Here's the original thread from 2014.

http://www.housepricecrash.co.uk/forum/index.php?/topic/199910-this-has-mis-selling-written-all-over-it/

Satch: Wonder if all these people would support the guy if he rented and was being evicted from his home on the whim of a property investor.

Exactly.

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Banks are incompetent to a level only usually seen in the public sector...which I guess is why half of them are effectively in the public sector now.

Worked in both both and have found dedicated professionals in both.

As regards eviction - well I don't know how advanced the gentlemans cancer is and the nature of it. But I would like to think that we still live in a country where compasion is still valued. Surely we are not at the stage where people are turfed out of there homes rented or otherwise prior to their taking thier last breath.

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Here's the original thread from 2014.

http://www.housepricecrash.co.uk/forum/index.php?/topic/199910-this-has-mis-selling-written-all-over-it/

Satch: Wonder if all these people would support the guy if he rented and was being evicted from his home on the whim of a property investor.

Exactly.

Its quite shocking actually. According to the guardian, there were 41,000 tenant evictions in the last 3 months data available. Reposessions are running at under 30,000 a year. When you consider around 12,000,000 homes have a mortgage on them, and 6,000,000 rent, more than 10 times as many are evicted, in relative terms. Yet I never see articles on their side, as I do with homeowners. Quite the opposite, the DM usually supports the landlord wanting to evict tenants.

People want all the rights that come with homeownership (ie financial gain, untaxed) with none of the responsibility.

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Seems like UKAR / bradford & bingley had exhausted all forebearance options:

In a statement, UKAR, who manage mortgage lenders of Bradford & Bingley, said: "Repossession is always viewed as a last resort and follows a series of forbearance options, with the aim of finding a solution that takes account of the customer's specific circumstances. Regrettably, in this instance, we have been unable to find a solution.

"Bradford & Bingley has followed proper legal procedures and is now legally entitled to take possession of this property following the ruling by the Court and the Judge.

"We have a valid possession order that is enforceable."

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Its quite shocking actually. According to the guardian, there were 41,000 tenant evictions in the last 3 months data available. Reposessions are running at under 30,000 a year. When you consider around 12,000,000 homes have a mortgage on them, and 6,000,000 rent, more than 10 times as many are evicted, in relative terms. Yet I never see articles on their side, as I do with homeowners. Quite the opposite, the DM usually supports the landlord wanting to evict tenants.

People want all the rights that come with homeownership (ie financial gain, untaxed) with none of the responsibility.

Shocking particularly for those families with kids who are trying to give them stability.

Exteninging the teneancy agreement to a minimum of three years seems a good start might be a good start. Personally I would go for five years.

http://press.labour.org.uk/post/93402971354/emma-reynolds-speech-the-choice-on-housing

A Labour Government will:

Ban letting agent fees on tenants.

Legislate to make three year tenancies, not short-term tenancies the norm for those who rent their homes in the private sector.

And we’ll act on unpredictable rent rises too by putting a ceiling on excessive rent rises during the period of these longer-term tenancies.

A more stable, long term market will be good for tenants and good for landlords too.

Generation rent has been ignored for too long – but not under the next Labour Government.

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Irrational mob organised by social media. Goes to show sophisticated tools in unsophisticated hands can be dangerous.

The wider issue is how did everyone get to be so thick? Were people always gibbering idiots responding obediently to simple emotional manipulation, or is this new? I cant be certain and maybe I just wasn't exposed to it as much, but I really don't recall so much stupidity amongst the general population prior to around 10 years ago.

Is this what happens when rational actions, such as not taking on debt you cant repay, result in no penalty? Has everyone come to the conclusion that behaving in a rational way is no longer what works? It no longer has value?

If I behave like an idiot and everyone else pays for it, I might as well continue behaving like an idiot. This lack of punishment for stupidity needs to end, stupidity is becoming an ingrained behaviour.

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Generation rent has been ignored for too long – but not under the next Labour Government.

Generation rent is a labour invention. House prices tripled under labour.

You'll forgive me if I laugh in the face of any labour politician who tells me they have a partial answer to a problem that wouldn't exist if it wasn't for them, and acts like they're doing me a favour.

They broke both my legs, but look at the deal this guy is offering on crutches! Decent fellow.

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Irrational mob organised by social media. Goes to show sophisticated tools in unsophisticated hands can be dangerous.

The wider issue is how did everyone get to be so thick? Were people always gibbering idiots responding obediently to simple emotional manipulation, or is this new? I cant be certain and maybe I just wasn't exposed to it as much, but I really don't recall so much stupidity amongst the general population prior to around 10 years ago.

Is this what happens when rational actions, such as not taking on debt you cant repay, result in no penalty? Has everyone come to the conclusion that behaving in a rational way is no longer what works? It no longer has value?

If I behave like an idiot and everyone else pays for it, I might as well continue behaving like an idiot. This lack of punishment for stupidity needs to end, stupidity is becoming an ingrained behaviour.

Happens all the time unfortunately. People with petitions particularly grate. I've never signed a petition (even if I agree with it) and never intend to. If someone is unlucky enough to ask me to sign their petition on the street, they get a very abrupt "F-off!"

We have Juries for a very good reason. Expecting millions of people to know everything about millions of things is impossible. So we have a dozen or so people immerse themselves in something to probe it inside out. So many of these internet petitions traverse very complex area...unfortunately people add their names because the headline sounds good. Any politician with any integrity would rip up any petition the minute it is handed to them.

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http://www.nottinghampost.com/Hundreds-expected-gather-Carlton-Tom-Crawford/story-25900078-detail/story.html

It appears the gatherings have been organised by the potential evictee via social media.

Story from the local nottingham paper, some of the comments are interesting

The potential evictee was apparently misled by a website one comment allegee.

Edited by workingpoor

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People want all the rights that come with homeownership (ie financial gain, untaxed) with none of the responsibility.

Way too often, yes. It's why I dread the mortgage debt today with prices as they and want lower prices, where others rush into buy at ever higher prices.. too often seemingly with no real eye on the commitment/risks. Dead money renting etc. Fine, but they make their own decisions.

The Nottingham guy has updated his YouTube with vids - just watching one from a few days ago - this guy seems prepared to take things all the way, sadly.

So much confusion or misdirection with this guy and his mortgage. I'm just assuming the lender and the courts have got it correct with his debt position. I will ensure I have all the paperwork my future mortgage, and any switches/changes (if true) I will get sorted at the time... not later, to ensure I know my position with regard debt. Debt is not so much fun, in these circumstances.

https://www.youtube.com/channel/UCOVjl1_eT9Vfw_D2i5_TTUA

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http://www.nottinghampost.com/Hundreds-expected-gather-Carlton-Tom-Crawford/story-25900078-detail/story.html

It appears the gatherings have been organised by the potential evictee via social media.

Story from the local nottingham paper, some of the comments are interesting

The potential evictee was apparently misled by a website.

According to Tom Crawford's YouTube video. He took out an endowment mortgage is 1988 and around 2000 was told that the endowment policy would not cover the original loan amount. He doesn't seem to have done anything about this and when Bradford & Bingley seemingly unilaterally changed the loan to a repayment type so that at least some of the capital would be covered, he insisted they change it back to an endowment. There was further confusion and it appears that he was only paying interest from about 2000. Although he discovered this around 2005 he did nothing about covering the original loan. By the end of the loan period in 2013 he had discovered the Get Out Of Debt Free website and attempted to avoid being chased for the outstanding amount by launching proceeding against B&B on the grounds that money is simply created out of thin air and thus B&B hadn't actually loaned him anything. He thus feels that what he has paid to date is "enough". Unsurprisingly, the court disagreed and since he is refusing to pay the outstanding sum his house is being repossessed. The GOODF website is replete with these (and many less savoury) theories many of which involve avoiding obligations to pay for goods and services.

Oh dear...

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Generation rent is a labour invention. House prices tripled under labour.

You'll forgive me if I laugh in the face of any labour politician who tells me they have a partial answer to a problem that wouldn't exist if it wasn't for them, and acts like they're doing me a favour.

They broke both my legs, but look at the deal this guy is offering on crutches! Decent fellow.

Generation rent is a labour invention. House prices tripled under labour.

You'll forgive me if I laugh in the face of any labour politician who tells me they have a partial answer to a problem that wouldn't exist if it wasn't for them, and acts like they're doing me a favour.

They broke both my legs, but look at the deal this guy is offering on crutches! Decent fellow.

No point denying it - your right. They rode the bubble and we are paying for it now.

However, some of the responsiblity lies with the central bank which deliberately kept interest rates at low levels. In the article below Eddie George oulines the thinking of the BoE during his tenure and the resulting debt binge and house price bubble.

"Lord George, who was governor of the Bank from 1993 to 2003, said the interest rate environment across much of the Western world early this decade caused a "rapid rise in household debt and rapidly escalating house prices in many countries".

He added: "In the face of the economic slowdown in the industrial world in the early years of the decade - when inflation was generally in pretty good control - official interest rates, generally, were reduced to abnormally low levels."

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/2791914/Eddie-George-Bank-did-not-see-risk-of-low-interest-rates.html

It's also worth pointing out that financial deregualation under Nigel Lawson, Margaret Thatchers Chancellor in 1987 allowed the banks to compete in what was a morgage market demoniated by the mutual building society. At that time the mutuals raised about 75% of there capital from savers and about 25% in the mondey markets. Lending was emmintently sensible in those days.

House prices were kept in check by compartively higher deposits, low lending ratios e.g. 3 x join income, max 25 year loan term and you were also likely to be interviewed to see if your finances were in reasonbly good shape. All very sensibly. This all started to change in 1995 prior to Labours election in 1997.

So we are where we are. All we can do is look at the present policys put before us and vote accordingly.

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So we are where we are. All we can do is look at the present policys put before us and vote accordingly.

Cybernoid classic full-on hpc response to your earlier point. I want HPC (although I admit I would like much by way of improvements for Labour's - later ComDems, Generation Rent for tenants).

Can only hope negative economic feedback, sliding productivity, in part from such misallocation of assets and continuation policy and protected greed and over-reach from so many market participants, over so many years, overwhelms every political party.

The guy's latest video, at the very end. He's home-owner class, and thinks his vote is important too.

TC: There's an election coming up Mr Cameron, remember.

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In another recent video he's campaigning to some other homeowner with an 'unfair problem' in Golders Green. He doesn't give much or background for the nice person they're helping. 'We're discovering the extent of this fraud'.

Think he actually goes to the possession-blocking-event in another video, at GG. He gives the address so anti-repossession supporters can attend.

no.66

NW11 9TN

http://www.rightmove.co.uk/house-prices/NW11-9TN.html

My sister knows a couple in their mid 30s renting in Golders Green; married, renting, saving. Landlords won't accept talk of how it's just all 0s and 1s and not real, in exchange for rent.

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tenancy evictions could be down to the rule about becoming intentionally homeless...leave on time and wave goodbye to social help.

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