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JohnLondon

2nd charge lenders in trouble!

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'master brokers' reportedly charging borrowers second charge completion fees of up to 10 per cent - which amounts to £6,000 on a typical £60,000 second charge mortgage.

PEOPLE WHO FALL FOR THIS NEED TO LOSE EVERYTHING BECAUSE THEY ARE NOT MENTALLY CAPABLE OF HANDLING ASSETS.

NO BAIL OUTS

NO SUPPORT FOR FRAUDSTERS

NO FREE CASH FOR LEECHES

Edited by Locke

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20 hours ago, Locke said:

PEOPLE WHO FALL FOR THIS NEED TO LOSE EVERYTHING BECAUSE THEY ARE NOT MENTALLY CAPABLE OF HANDLING ASSETS.

NO BAIL OUTS

NO SUPPORT FOR FRAUDSTERS

NO FREE CASH FOR LEECHES

These will get classed as 'vunerable customers' (massively diverse range now defined by FCA) and the consumer champions will step in. Then the claims companies and the banks will just pay out.....not their money anyway. 

Like PPI (appreciate difference for consumer viewpoint...I mean from a bank viewpoint) just set aside £15bn a pay out. Salaries still paid it is only share holders and existing customers who end up paying. 

And if no bail out....again who actually will pay. Not saying there should be a bail out....just I think the banks care less either way. (Until it happens) 

Edited by Pop321

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1 hour ago, Pop321 said:

who actually will pay

First choice is the taxpayer. Not sure this is viable.

Next most likely is account holders, think Greece recently. I think this is very likely; there are way more debt leeches than savers. But this won't cover losses

Lastly, you have outright default. The value of these loans is underpinning a lot of the value in society, such as house prices, asset prices, welfare payments, wages etc. Once the value of the loans collapses, the value of these things collapses. The banks will be gone. If there were any justice, there would be a lot of bankers and lenders in jail, doubt it though.

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  • 406 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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