Fletcher Posted December 9, 2017 Share Posted December 9, 2017 http://www.thisismoney.co.uk/money/mortgageshome/article-5156169/Benefits-overhaul-mean-thousands-lose-homes.html About time too. Quote Link to comment Share on other sites More sharing options...
Diver Dan Posted December 9, 2017 Share Posted December 9, 2017 If only there was some sort of insurance policy people could take out to protect their loan repayments in the event of not being able to work due to a redundancy, then we'd have far fewer problems with benefits. Quote Link to comment Share on other sites More sharing options...
spyguy Posted December 9, 2017 Share Posted December 9, 2017 8 minutes ago, Diver Dan said: If only there was some sort of insurance policy people could take out to protect their loan repayments in the event of not being able to work due to a redundancy, then we'd have far fewer problems with benefits. If only there was some means family could do something to pay for their living cost. Maybe they could go somewhere, mon- fri, 9am til 530pm. And someone could give them money. I know, far fetched isnt it. Quote Link to comment Share on other sites More sharing options...
chronyx Posted December 9, 2017 Share Posted December 9, 2017 4 minutes ago, spyguy said: If only there was some means family could do something to pay for their living cost. Maybe they could go somewhere, mon- fri, 9am til 530pm. And someone could give them money. I know, far fetched isnt it. ???? choked on my smoke Quote Link to comment Share on other sites More sharing options...
Diver Dan Posted December 9, 2017 Share Posted December 9, 2017 8 minutes ago, spyguy said: If only there was some means family could do something to pay for their living cost. Maybe they could go somewhere, mon- fri, 9am til 530pm. And someone could give them money. I know, far fetched isnt it. I wasn't actually being serious. Underemployment is really the big problem for a lot of folk in the current economy and universal credit, while possibly a good idea in theory for smoothing out the peaks and troughs of unstable incomes; it has been a disaster in its implementation so far. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted December 9, 2017 Share Posted December 9, 2017 1 hour ago, Fletcher said: http://www.thisismoney.co.uk/money/mortgageshome/article-5156169/Benefits-overhaul-mean-thousands-lose-homes.html About time too. You missed the best part off: "Thousands more households in danger of losing their homes after switch to universal credit as critical safety net is removed, banks warn" As if the bankers care about the people, instead of taking a loss on a forced sale asset. It's just a give us more taxpayer's money. SMI is another bank bailout. Bankers want it increased and to last forever, so they can lend more in the casino but get their losing bets repaid. Quote Link to comment Share on other sites More sharing options...
Fence Posted December 10, 2017 Share Posted December 10, 2017 (edited) 11 hours ago, Fletcher said: http://www.thisismoney.co.uk/money/mortgageshome/article-5156169/Benefits-overhaul-mean-thousands-lose-homes.html About time too. Anything to do with that ball achingly boring early morning finance radio show? Only second to Farming Today that one. Anyways, went straight to the photo as you do. Yeh, nothing worse than having to work after a bender. But then read that caption thing - "UK Finance, the banking trade body, has warned.....". What, like I'm a tool? Sure, and I've got a submarine to sell you. Toshers. Edited December 10, 2017 by Fence Quote Link to comment Share on other sites More sharing options...
nome Posted December 10, 2017 Share Posted December 10, 2017 10 hours ago, Diver Dan said: I wasn't actually being serious. Underemployment is really the big problem for a lot of folk in the current economy and universal credit, while possibly a good idea in theory for smoothing out the peaks and troughs of unstable incomes; it has been a disaster in its implementation so far. You say it's a big problem but everyone I know who claims tax/universal credits have CHOSEN to be underemployed (i.e part-time) even though permanent full time hours are available to them. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 10, 2017 Share Posted December 10, 2017 10 hours ago, spyguy said: If only there was some means family could do something to pay for their living cost. Maybe they could go somewhere, mon- fri, 9am til 530pm. And someone could give them money. I know, far fetched isnt it. Excellent! In addition, if housing costs were lower, as rents as well as house prices, then the financial strain would be less. Does that somehow go against the bank's interests? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted December 10, 2017 Share Posted December 10, 2017 If people have bought homes with benefits then we shouldcqll be asking why hard pressed tax payer are helping fund banks...yet again Quote Link to comment Share on other sites More sharing options...
leonardratso Posted December 10, 2017 Share Posted December 10, 2017 14 hours ago, spyguy said: If only there was some means family could do something to pay for their living cost. Maybe they could go somewhere, mon- fri, 9am til 530pm. And someone could give them money. I know, far fetched isnt it. somewhere=pub/snooker club/social club money=benefits someone=govt (via borrowing+taxpayer) this already happens. Quote Link to comment Share on other sites More sharing options...
durhamborn Posted December 10, 2017 Share Posted December 10, 2017 Im still waiting on the small print for the loans for SMI from April.Is the loan a 2nd charge?.Will the banks count it for a re-mortgage ie equity eaten up in the 2nd charge?. What is the repayment scheme?.What % of income and over what level? What happens when the 2nd charge keeps growing and there is no equity ?. This is a very good move of course,and will stop people getting the state to pay the mortgage then passing on the equity/MEWing,equity release pension etc later. This doesnt work so well on interest only mortgages though as there might never be any equity. Quote Link to comment Share on other sites More sharing options...
Fence Posted December 10, 2017 Share Posted December 10, 2017 (edited) And if only there was something the banks could do to spread the risk a bit. Phew, I don't know, maybe bundle them up and sell them on or something. Edited December 10, 2017 by Fence Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 10, 2017 Share Posted December 10, 2017 6 hours ago, Fence said: And if only there was something the banks could do to spread the risk a bit. Phew, I don't know, maybe bundle them up and sell them on or something. And if there was only way to pay for that risk premium across the financial system, like raising IR spreads say. Quote Link to comment Share on other sites More sharing options...
leonardratso Posted December 10, 2017 Share Posted December 10, 2017 if only VW woulf give me £3K back for a car i sold a few years back (on top of what i got for it) because it used to lie to me, then i could use it to buy a japanese car. Ah, i can dream on. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted December 11, 2017 Share Posted December 11, 2017 The same story has a link to this http://www.thisismoney.co.uk/money/mortgageshome/article-4962692/Thousands-low-income-pensioners-risk-losing-homes.html Quote One lady, aged 68 and who wished to remain anonymous, got in touch with This is Money claiming that her mortgage lender wrote to her in September threatening to evict her, citing, as part of the issue, the withdrawal of SMI. She is already struggling with arrears on her mortgage interest, having been granted a self-certification interest-only loan in March 2006 by then Lehman Brothers-owned mortgage lender Southern Pacific Mortgages Ltd (SPML). She kept up with her payments until she retired in 2009, when she began to fall behind. Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-4962692/Thousands-low-income-pensioners-risk-losing-homes.html#ixzz50wUq7O2w Follow us: @MailOnline on Twitter | DailyMail on Facebook Who thinks giving someone who is 56 a self cert interest only mortgage is a great idea? Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted December 11, 2017 Share Posted December 11, 2017 On 10/12/2017 at 7:08 AM, nome said: You say it's a big problem but everyone I know who claims tax/universal credits have CHOSEN to be underemployed (i.e part-time) even though permanent full time hours are available to them. Rational decision. When full time work for many pays peanuts, and you can get more or less the same working part time and getting topped up it makes sense to do so. Unless you earn 80k plus as earned family income in the south east, no point in full time work. Solution is proper living wages in the first place, and reducing the cost of housing so people can have a family and a life. Quote Link to comment Share on other sites More sharing options...
winkie Posted December 11, 2017 Share Posted December 11, 2017 (edited) The last thing I would like to see is people losing their homes especially if they go to people who benefit from others misfortunes.......having said that far too many, for too long have buried their heads in the sand, sometimes people have to stand up and be accountable to the actions they take or lack of actions. Edited December 11, 2017 by winkie Quote Link to comment Share on other sites More sharing options...
Fletcher Posted December 11, 2017 Author Share Posted December 11, 2017 1 hour ago, winkie said: The last thing I would like to see is people losing their homes especially if they go to people who benefit from others misfortunes.......having said that far too many, for too long have buried their heads in the sand, sometimes people have to stand up and be accountable to the actions they take or lack of actions. 2 hours ago, iamnumerate said: The same story has a link to this http://www.thisismoney.co.uk/money/mortgageshome/article-4962692/Thousands-low-income-pensioners-risk-losing-homes.html Who thinks giving someone who is 56 a self cert interest only mortgage is a great idea? You're f##king kidding me, right? The State has been paying her mortgage interest since she retired in 2009? Lord, tell me this is not true. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted December 11, 2017 Share Posted December 11, 2017 Just now, Fletcher said: You're f##king kidding me, right? The State has been paying her mortgage interest since she retired in 2009? Lord, tell me this is not true. Looks like it, then again if she and the mortgage company knew this might happen then it explains why she took out a mortgage 3 years before she retired. Quote Link to comment Share on other sites More sharing options...
Fletcher Posted December 11, 2017 Author Share Posted December 11, 2017 1 hour ago, winkie said: The last thing I would like to see is people losing their homes especially if they go to people who benefit from others misfortunes.......having said that far too many, for too long have buried their heads in the sand, sometimes people have to stand up and be accountable to the actions they take or lack of actions. The first thing I want to see is people losing their _properties_. I may as well be honest. Not anybody that I know. And not any individual. But en masse, it's a necessary evil for those who have endured a lot, a LOT, of pain for many many years to see a light at the end of the tunnel. Of course, we'd all like only BTL LLs to lose their properties, and not individuals losing their primary residence. But this is not an ideal world. Quote Link to comment Share on other sites More sharing options...
Fletcher Posted December 11, 2017 Author Share Posted December 11, 2017 5 minutes ago, iamnumerate said: Looks like it, then again if she and the mortgage company knew this might happen then it explains why she took out a mortgage 3 years before she retired. F##king motherf##king hell. I want to vomit. Quote Link to comment Share on other sites More sharing options...
Fletcher Posted December 11, 2017 Author Share Posted December 11, 2017 1 minute ago, Fletcher said: F##king motherf##king hell. I want to vomit. No wonder the b#stard banks are doing PR work now against the changes. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted December 11, 2017 Share Posted December 11, 2017 1 minute ago, Fletcher said: F##king motherf##king hell. I want to vomit. It is the same as paying her rent as she is in practice renting from the bank. Still a stupid idea. Quote Link to comment Share on other sites More sharing options...
winkie Posted December 11, 2017 Share Posted December 11, 2017 1 minute ago, Fletcher said: You're f##king kidding me, right? The State has been paying her mortgage interest since she retired in 2009? Lord, tell me this is not true. Did not read the link.....but people who rent, both public and private rents have their ever increasing rents paid if they can't afford to pay......interest on IO is a tiny sum and falling rapidly in comparison...... homes once were purchased when homes were not purchased as an investment and there was no such thing as a BTL mortgage.....BTL rents and housing benefit has benefited landlords very well over the years. If the cost of housing was less more could afford to pay it with the wages they earn, like they used to...... Quote Link to comment Share on other sites More sharing options...
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