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Is Support For Mortgage Interest Still Going, Is It Still A Spectacular Freebie For Old Duffers?

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Is support for mortgage interest still going, is it still a spectacular freebie for old duffers?

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Is support for mortgage interest still going, is it still a spectacular freebie for old duffers?

ageist!

all ages receive SMI

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Why cant you see that not all old duffers are not in your camp? Just for the record can you tell me what it is we have done

that is different to what you would do.

I went to work from the age of 15 in crap factory jobs , paid tax and even Ni that pays a shit pension . Bought a house that you would have if roles were reversed. Now all this crap about boomers. Well you are a victim of this goverments divide and rule propaganda methinks. Because we had f@ck all say in what the F@ackwit goverment policies were are are now.

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Why cant you see that not all old duffers are not in your camp? Just for the record can you tell me what it is we have done

that is different to what you would do.

I went to work from the age of 15 in crap factory jobs , paid tax and even Ni that pays a shit pension . Bought a house that you would have if roles were reversed. Now all this crap about boomers. Well you are a victim of this goverments divide and rule propaganda methinks. Because we had f@ck all say in what the F@ackwit goverment policies were are are now.

Wtf

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WTF is whatb I think when I cionstantly read that anyone old has caused the young to be without a house.

It's a load of bull and angers me . Why are you not on the streets protesting .Or organising marches strikes even. No you are the insular generation . Hey nobody gave me a Fa@cking thing in life so do not include me in the boomers stole my house whinge posts

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WTF is whatb I think when I cionstantly read that anyone old has caused the young to be without a house.

It's a load of bull and angers me . Why are you not on the streets protesting .Or organising marches strikes even. No you are the insular generation . Hey nobody gave me a Fa@cking thing in life so do not include me in the boomers stole my house whinge posts

That'll explain nimbyism and the disparity between income of the elderly vis a vis working generations.

Oh and the national debt. Care to explain that one. And the world Bank figures on generational costs. Or are numbers too inconvenient for a hard protesting old duffer on a NIMBY parade who wants nothing more for himself than more of everything and screw social responsibility.

Edited by Si1

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Oh and yes I went on strike and protest marches. Once for 12 weeks to get women equal pay.

Yes and when the motor company I worked for tried to pay temp workers lower rates I went on strike for that.

A lot from my generation had to eat shit to get a house paid for but we did not whinge sand whine and blame the old. It's ******ing awful being old in this country of faing chavs. No style no pride . It makes me ashamed to be a brit. Get some balls and get out there and protest

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Oh and yes I went on strike and protest marches. Once for 12 weeks to get women equal pay.

Yes and when the motor company I worked for tried to pay temp workers lower rates I went on strike for that.

A lot from my generation had to eat shit to get a house paid for but we did not whinge sand whine and blame the old. It's ******ing awful being old in this country of faing chavs. No style no pride . It makes me ashamed to be a brit. Get some balls and get out there and protest

What a sad sad opinion you have. You are the selfish one, not I.

And no you didn't have to eat sh#t to buy a house.

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national debt my **** , you wont change anything by typing on a keyboard. I have paid a lot of tax and never had a say

in being in a national insurance pension.We will all be dead soon us old farts and then who will you blame eh?

Get off your **** and protest . I was an unpaid union rep and did my bit for years . What have you done to further working peoples wages or prospects.?

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Yes I did eat very poor diet to pay for a house. Strikes without pay. Massive interest rates , inflation that made your eyes water.

You cant take it when an oldie bites back. The quality of life in this country has been reduced to shite mode by the generations below me. Dont get old mate you wont like it, oh and dont own a house because some f@acker below you will be green with envy even if you worked 2 jobs to buy a modest 2 bed

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national debt my **** , you wont change anything by typing on a keyboard. I have paid a lot of tax and never had a say

in being in a national insurance pension.We will all be dead soon us old farts and then who will you blame eh?

Get off your **** and protest . I was an unpaid union rep and did my bit for years . What have you done to further working peoples wages or prospects.?

Ooh that miners strike went well didn't it

You voted for your own narrow self interest and ignored the implications

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Yes I did eat very poor diet to pay for a house. Strikes without pay. Massive interest rates , inflation that made your eyes water.

You cant take it when an oldie bites back. The quality of life in this country has been reduced to shite mode by the generations below me. Dont get old mate you wont like it, oh and dont own a house because some f@acker below you will be green with envy even if you worked 2 jobs to buy a modest 2 bed

Yep. Massive interest rates and high inflation. That's called a tautology. You had low real interest rates. It was hard for a few years and then your pay caught up. You didn't have house prices at 10x income.

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Well the miners were outof control. Can you tell me what has happened to wages since unions were snuffed out?

Well if you cant I will. The greedy fa@cking corporations have you on a mouse wheel. How very dare you ask for a wage that pays for a house, or a decent standard of living.

Keep up at the back, today it's in print Maggies policies failed this country and we are reaping the whirlwind.

The only way affordable housing is coming back is mass protest

Unless there is a crash, I hope it does crash by the way. Stop this crap about boomers, most of your problems are because of goverment policy. If they cared they would tax buy to let. We all get old and it is not the fault of ordinary folf what has happened.

This country is fa@ing zoo to live in and worse still if you are old. y following and repdeating the goverments divide and rule techniques you are facilitating their will. My spelling maybe crap but I am a survivor in a country that is now got the quaility of life and freedoms of some medievil village

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Well wheres my answer? Did maggies policy of removing any control over banks help your cause. Or did it mean

that the 1% got even more ? Answers please , because when we had an economy that unions had a say in workers were not going to food banks. No it's all the fault of old age pensioners that were forced into paying for a NI pension that the gaverment pissed the subs up a car park wall.

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Is support for mortgage interest still going, is it still a spectacular freebie for old duffers?

The latest if you missed it on FT's thread. I think 71,000 claiming pensioners gives you right to call it old-duffer freebie.

Interesting factoid: if you look up thread at post #66 (2nd June) you'll see the table of effective interest rates for April as published by the Bank of England.

In April the effective interest rate on secured loans dropped from 3.14% to 3.12%. I'm sure you shrugged your shoulders at this just as I did (if you even noticed it).

However here's a quote from Shelter regarding Support for Mortgage Interest (SMI) payments:

"SMI is paid at the level of the Bank of England's published Average Mortgage Rate (currently 3.63%). It will only be adjusted in future when the published average mortgage rate differs by 0.5% or more."

3.63% - 3.12% = 0.51%.

Result:

Mortgage benefit to be cut for 167,000 struggling households

About 167,000 homeowners, including 71,000 pensioners, who are struggling to pay their mortgage will see their mortgage benefit payments fall by a typical £756 a year from next month.

Under the Support for Mortgage Interest (SMI) scheme, the Government makes interest payments on the first £200,000 of outstanding mortgages for those who can't afford it. This is normally paid directly to the lender.

But from 6 July, the interest rate the Government pays will drop from 3.63% to 3.12%. It's been set at 3.63% since October 2010.

http://www.moneysavingexpert.com/news/mortgages/2015/06/mortgage-benefit-payments-are-to-be-cut-for-167000-struggling-households

Hah. Very good. Not a deep enough cut (but at least against Shelter's beliefs), but maybe having some effect.

I recall zugzwang posting up data... something like 50%+ of mortgages are on SVR of over 4%?

SMI- Pure Entitlement Sleeping-Bag ex-EA man hogging large family home sold... maybe this cut will bring out some supply.

http://www.mirror.co.uk/money/personal-finance/mortgage-benefit-cuts-mean-thousands-262973

08 Aug 2014 £220,000

12 Sep 2002 £128,500

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=46309241&sale=51682493&country=england

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Just for the record , If someone cant afford to pay their mortgage then repo them. It was the tone of the thread that got me on to my box. It hurts to read articles where the boomers and I understand that to mean anyone born after 45 are the rooit cause of all evil.

Let me enlighten you . When I was a kid of about 7 in a one parent family we fell on hard times. At that time there was family assistance which unlike today worked on the principle of if you had more than one chair one table and the clothes you stoodn up in , you got f@ck all i n the way of help from the state.So as a kid I enjoyed many hungry day's. Then I started work and was determined the fa@kers wer not going to shit on me without nit costing then dearly. Working on that principle I managed to keep my income up with the going rate of inflation. At that timethe comapany I worked for had the best selling car and million of profit. Without constantly reminding them that we were the reason they made money we woul without strikes have been going to food bnaks. Because I would not and unions would not tolerate the constant tries at eroding our pay I retired on a good pension ad was earning a good wage. So if you want to belive the propagaqnda about unions then see you down the bank as I volunteer at one

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So get real the world is a mean lean place and no f@cker is gonna give you a house . I am soory about my typing few brandies and I am anybodys

That aside you lot need to wake up and smell the coffee , the only language that will get where you want to be is confrontation

A lioad of pussies if you just want to blame the like of me

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So get real the world is a mean lean place and no f@cker is gonna give you a house . I am soory about my typing few brandies and I am anybodys

That aside you lot need to wake up and smell the coffee , the only language that will get where you want to be is confrontation

A lioad of pussies if you just want to blame the like of me

There may be something in that.

It's just I can't imagine the Victim-Excuser HPCers big faction wanting that. They're too busy claiming society wants ever rising house prices ("WE" celebrate) - and that buyers paying ever high prices/insane prices - massively outbidding others - are innocent victims of advertising.

Some of the younger idealists will change their mind with their softness, if house prices double again in years to come, and they find themselves in a HMO at 50+.

Why do we celebrate rising prices.... err because loads of owners are many hundreds of thousands of pounds of asset wealth ahead since they bought their homes? And ramp it up to others. And want more HPI on top.

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That's why I got banned from mums net, I used to post on the geed posts " why is my garage conversion not selling for

ridiculous money that I can live in luxury on. I aqlso got banned on a site in 2006 when I was telling my opion on Browns wonder economy

That site was a computer mag that went skint.

Look we brits used to have the balls to stand up and be counted even if it meant no wages at the ened of the week. All

those sacrifices wasted because people buy into the propaganda. I dont want to be at odds with anyone but for christs sake being

reasonanble aint working with tories mark 1 or tories mark 2

The time has come whereby people need to be in the face of this goverment and let it be known that you will not tollerate the status quo

My point in all this is the great majority of folk just lived luife and didnt do anyone down. It's human nature greed that has not been controlled.

Time for a change, and I believe there will be anarchy big style unless something regarding basic housing for the indiginous population is not forthcomming

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They may be beaten down for the moment (my two brothers and sister are) by the market. Workaholics to pay the rent and get a little into an ISA, against runaway silly HPI year-on-year-on-year.

Maybe the confrontation will come... the manifestation of a serious reaction from the hardship side on housing, when all this HPI puffs out and begins to turn down.

Unlike 2008 and all the victim campaign about how buyers were innocent for paying £300K for South Manchester Semis (although still the mainstream HPC theme today for buyers paying £500K now)... more of a wider younger reaction demanding market must correct.

The oldies don't want to let their mad HPI go... but there has to be some system reaction to that. It has to stress the economy in other ways. A book I read a while ago, about Revolutions, suggested the wider population stays accepting of hardship in depressions, despite other VI still loving it up with all their cake and goodies, but the energy comes for when things bottom and begin to turn a bit for the better. I would suggest all the recent HPI on top of mad HPI, 'Generation Rent' QE/ECB QE... is things getting worse/the depression... and the next spell of faltering house prices with fewer policy measures available, the beginning of a turn for the better... where put upon renter-savers may be more insistent prices have to correct.

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Just for the record , If someone cant afford to pay their mortgage then repo them. It was the tone of the thread that got me on to my box. It hurts to read articles where the boomers and I understand that to mean anyone born after 45 are the rooit cause of all evil.

Some more background info then, from many previous discussions about SMI. It's seen as a monstrously "pro-boomer" benefit because crucially, it is time limited for most people, but if you're over a certain age, SMI is paid for ever and ever and ever. That may explain the language in the thread title.

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I dont give a monkeys shunt about the value of my house. My daughter will get it when another boomer dies .

I hope it goes massivly down in value and shelters someone from greedy shunt buy to let shunts

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