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TheCountOfNowhere

Just when you thought it couldnt get any worse....

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"Nationwide to launch interest-only retirement mortgage"

https://www.ftadviser.com/mortgages/2018/05/22/nationwide-to-launch-interest-only-retirement-mortgage/

 

 

“Member needs change in later life, so we expanded our mortgage range with a lifetime mortgage which will allow people to access equity in their home in later life," he said.

 

"Next, we plan to launch a retirement interest-only mortgage, giving members more choice in managing their finances as they get older.”

 

The building society is the latest to enter the later life lending market after the FCA published a paper last year criticising lenders who would not lend to older people.

 

"Kevin Dunn, mortgage expert from Furnley House in Leicestershire, said that the new entrants were welcome.

“It’s completely logical,” he said."

 

There you have it.

Mortgages till you die.

Taken with the news that Carney's prepared to do more QE and -ve rates there is only one option.

LEAVE.

GET THE **** OUT.

There is going to be a banking collapse at some point, not a little 2007 one a real one that they can't stop.

 

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5 minutes ago, TheCountOfNowhere said:

"Nationwide to launch interest-only retirement mortgage"

https://www.ftadviser.com/mortgages/2018/05/22/nationwide-to-launch-interest-only-retirement-mortgage/

 

 

“Member needs change in later life, so we expanded our mortgage range with a lifetime mortgage which will allow people to access equity in their home in later life," he said.

 

"Next, we plan to launch a retirement interest-only mortgage, giving members more choice in managing their finances as they get older.”

 

The building society is the latest to enter the later life lending market after the FCA published a paper last year criticising lenders who would not lend to older people.

 

"Kevin Dunn, mortgage expert from Furnley House in Leicestershire, said that the new entrants were welcome.

“It’s completely logical,” he said."

 

There you have it.

Mortgages till you die.

Taken with the news that Carney's prepared to do more QE and -ve rates there is only one option.

LEAVE.

GET THE **** OUT.

There is going to be a banking collapse at some point, not a little 2007 one a real one that they can't stop.

 

To avoid the Banking collapse, pretty sure they can come up with mortgages after death. Your children will inherit the debt and can continue to live in the house until they die and pass it to their children with the debt....

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Quote

Kevin Dunn, mortgage expert from Furnley House in Leicestershire, said that the new entrants were welcome.

“It’s completely logical,” he said.

“When people have pension income that is secure they may well want to borrow money - I’ve a client at the moment who wants to release some money to give to a daughter to buy a home.

"They don’t want to downsize yet, but she wants to buy now, and they have £27,000 in mortgage income a year. This is right for them.”

"The more lenders coming into this space the better, as it will make sure it is competitive. It is great to see a big lender like Nationwide coming in.”

 

 

So it's all about "helping" young people to "get on the ladder".

Edit: Try as I may, I can't keep my text out of the quote box.

 

Edited by Bruce Banner

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I thought Kirsty was doing playboy....

Its wont be a mortgage.

And I doubt itll be on NW books.

' The society said that it could not give a date on when the product would be launched, or any further details. '

Its BS.

Theyve look at their book - NW are LondonSE centric, IO mortgages are London/SE centric - and said 'Fux! What do we do?'

They come with this.

Their legal/banking people will reject it.

 

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1 hour ago, warrior88 said:

To avoid the Banking collapse, pretty sure they can come up with mortgages after death. Your children will inherit the debt and can continue to live in the house until they die and pass it to their children with the debt....

The Roma Gypknack Mortgage.

When a UK mortgagor dies ownership of his/her mortgage immediately transfers to an extended family of East Europeans.

 

Romania-immigration-Ioan-Rus-resigns-584

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2 hours ago, warrior88 said:

To avoid the Banking collapse, pretty sure they can come up with mortgages after death. Your children will inherit the debt and can continue to live in the house until they die and pass it to their children with the debt....

Is your house suffering from negative growth, are you the victim of negative life?

Then we have the product for you, the Lazuras loan.

Edited by Lord D'arcy Pew

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2 hours ago, warrior88 said:

To avoid the Banking collapse, pretty sure they can come up with mortgages after death. Your children will inherit the debt and can continue to live in the house until they die and pass it to their children with the debt....

Already collectively we rent our money supply from the commercial banking cartel.

Why not also our living space?

The perfect, doubly inescapable combination for institutionalised debt slavery.

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4 hours ago, warrior88 said:

To avoid the Banking collapse, pretty sure they can come up with mortgages after death. Your children will inherit the debt and can continue to live in the house until they die and pass it to their children with the debt....

Sweden. 140 year mortgages a thing of the past, now limited to just 105 years.

https://www.thelocal.se/20160324/sweden-limits-mortgage-loans-to-105-years

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This is overall not HPI-stimulating IMO.

The few who use the equity release to give kids a deposit will add to HPs now. But they already could have done that with family-guarantor-mortages

Those who spunk mega$$ on cruises, fancy cars or events [weddings] will have paid out money PLUS all the interest until they peg it that otherwise would have ended up as inheritance. The renters in the next generation will have LESS inheritance to spend on houses quite soon.

At some point the second effect will be greater than the first since money has been removed from the total pot [both the spending on items that retain no value and added interest].

So well done Nationwide. Now HPCers, go out and encourage those boomers to be carefree, selfish and irresponsible. 😉

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4 hours ago, zugzwang said:

The Roma Gypknack Mortgage.

When a UK mortgagor dies ownership of his/her mortgage immediately transfers to an extended family of East Europeans.

 

Romania-immigration-Ioan-Rus-resigns-584

Could of taken this pic in many parts of the UK...

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3 hours ago, GreenDevil said:

Could of taken this pic in many parts of the UK...

Precisely. My first instinct was to say outskirts of Manchester or Bradford high street.

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7 hours ago, Lord D'arcy Pew said:

Is your house suffering from negative growth, are you the victim of negative life?

Then we have the product for you, the Lazuras loan.

Where rates will rise after three days.... I wish.

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23 hours ago, spyguy said:

I thought Kirsty was doing playboy....

That's one vision in my head that I did not need, thanks

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1 hour ago, inbruges said:

I have joined HPC because I think there is a massive injustice out there which is being controlled by our government and their puppets, or it could well be the other way around.

opening0000_by_x7994-d6ysg3c.gif

Not sure whether or not getting banged up for contempt of court (link) represents some kind of progress from getting banged up for mortgage fraud (link). I guess he's making effective use of HMPS in order to obtain shelter without having to shell out for a house.

Your post does seem a little bit off-topic though, probably better suited to the Off-topic sub-forum?

Edited by Beary McBearface

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1 hour ago, inbruges said:

Please moderators please take down if you do not see fit, I will understand.

I have joined HPC because I think there is a massive injustice out there which is being controlled by our government and their puppets, or it could well be the other way around. I am not big on conspiracy theories and believe that man probably went to the moon and 9/11 was done by a bunch religious nutters.

But

I think REAL government policy in so many things is not mainstream and not publicly declared as to their real intentions, wealth, immigration and of course the big money maker for so many in power, housing. I doubt myself sometimes, maybe I am one of the nutters. Then yesterday I saw something live online, the reporting of a mass heinous crime against children and Asian groomers where their sentences were being announced. There was only one over cautious Tommy Robbinson who was reporting it, who in the space of hours was arrested, put in front of a judge and now serving 13 months in prison, WOW!!  So many witnessed it, he did nothing wrong.

Yes Carney was employed to give the vision of a "miracle economy", but I cannot help but think there was a very secret and cosy meeting with him and the government as to what they really wanted off him from the start, After what happened yesterday I am now convinced that there are some very dark forces at work in the UK.

 

It's utterly offtopic but he was in contempt of court for reporting things at the wrong time and seems to have had a suspended sentence for the same offence which was invoked yesterday when he repeated it.

As the case it relates to is on-going his sentence cannot actually be reported on until the case it relates to has finished.

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41 minutes ago, Beary McBearface said:

Your post does seem a little bit off-topic though, probably better suited to the Off-topic sub-forum?

I personally think it is very relevant, but as I made clear I would fully understand it's removal. I don't agree with the vast majority of Tommy's politics, but this was something on the same line as the Nazi Salute debacle. The financial markets, economy, social engineering, and this most definitely includes housing in there is following  a set of rules and being controlled in a way we are not being told about, this is where I see the link.

Put it another way, if HPC.com had a following on the scale Tommy has and was starting to raise heads on mass I would bet that HPC would come under attack more so than it has been, and pressures would be applied. The way of the British people is you educate yourself, work hard, get a job and wealth(housing) just follows with those simple rules, but something else is at play in these times.

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9 minutes ago, inbruges said:

The financial markets, economy, social engineering, and this most definitely includes housing in there is following  a set of rules and being controlled in a way we are not being told about, this is where I see the link.

I don't buy that. You might enjoy this passage from Engelen et al's After the Great Complacence (OUP, 2011):

image.png.052f82c49dcb2c8852e2fc0447ad9abc.png

 

The latest adventures of Nationwide are a good example of how things really work. Nationwide were making money hand over fist knocking out billions of pounds of new buy-to-let lending every year until section 24 and PRA SS13/16 came along. George Osborne decided that what was good for him and his party (higher home-ownership) couldn't be reconciled to what was good for Nationwide so Nationwide's BTL lending caught a bullet.

Now the government has its eye on a bunch of coffin-dodgers with whopping interest-only mortgages they can't repay. The government doesn't want them all in the PRS being funded with housing benefit, it's cheaper to keep them paying the interest on their daft mortgages, particularly at these interest rates, and particularly if SMI becomes a loan. Nationwide are stepping in to provide the crappy, risky lending because they can't compete in the prime lending market. It's just a bunch of guys, pursuing their own advantage and making it up as they go along.

If you're seeing the secret leaders of the world at work in all this then I have a product that you might wish to buy for your cat.

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1 hour ago, Beary McBearface said:

I don't buy that. You might enjoy this passage from Engelen et al's After the Great Complacence (OUP, 2011):

image.png.052f82c49dcb2c8852e2fc0447ad9abc.png

 

The latest adventures of Nationwide are a good example of how things really work. Nationwide were making money hand over fist knocking out billions of pounds of new buy-to-let lending every year until section 24 and PRA SS13/16 came along. George Osborne decided that what was good for him and his party (higher home-ownership) couldn't be reconciled to what was good for Nationwide so Nationwide's BTL lending caught a bullet.

Now the government has its eye on a bunch of coffin-dodgers with whopping interest-only mortgages they can't repay. The government doesn't want them all in the PRS being funded with housing benefit, it's cheaper to keep them paying the interest on their daft mortgages, particularly at these interest rates, and particularly if SMI becomes a loan. Nationwide are stepping in to provide the crappy, risky lending because they can't compete in the prime lending market. It's just a bunch of guys, pursuing their own advantage and making it up as they go along.

If you're seeing the secret leaders of the world at work in all this then I have a product that you might wish to buy for your cat.

 

  Hide contents

 

 

 

You are really are quite unpleasant and read far to much into some posts on here, and thirdly, you are not an intellect, no matter how hard you try to portray yourself as one.

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2 hours ago, inbruges said:

The way of the British people is you educate yourself, work hard, get a job and wealth(housing) just follows with those simple rules, but something else is at play in these times.

You are totally right. I'm not sure how far it can continue. Youngsters will look at their educated parents/uncles and aunts and think, they haven't got much for their efforts (more so if they live in an hmo), and think screw that. I don't know what the answer is, but working your ******** off in the UK for not isn't appealing 

 

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1 hour ago, inbruges said:

You are really are quite unpleasant and read far to much into some posts on here, and thirdly, you are not an intellect, no matter how hard you try to portray yourself as one.

Strange but true, I was just trying to engage in a neutral way with what I understood to be the central point of your post (to the extent that there was a central point which was relevant to the topic).

I thought that somebody who'd chosen the character you'd chosen as an avatar could probably handle a quip about tin-foil hats. Lesson learned. I'll be more circumspect in any future dealings.

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52 minutes ago, UnconventionalWisdom said:

You are totally right. I'm not sure how far it can continue. Youngsters will look at their educated parents/uncles and aunts and think, they haven't got much for their efforts (more so if they live in an hmo), and think screw that. I don't know what the answer is, but working your ******** off in the UK for not isn't appealing 

  

Hence the growing number of 20 something males to be seen working on checkouts and in other low skilled work that was once done by females on a p/t basis to top up the family income.

Though there will be a class of youngsters coming through who've seen their parents/relatives live the life of Reilly off the back of land-lording who will take the wages off the above to live off.

Hammond the utter ***** has no idea how to solve the productivity problem who constantly rambles on about.

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1 hour ago, inbruges said:

You are really are quite unpleasant and read far to much into some posts on here, and thirdly, you are not an intellect, no matter how hard you try to portray yourself as one.

He's just another mug like the rest of us who made a bad bet on the price of property crashing, by failing to grasp the extent govt/BoE props would to stabilise then send property prices to the stratosphere prior to and post the 2013/4 bubble.

 

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27 minutes ago, TJHooker said:

He's just another mug like the rest of us who made a bad bet on the price of property crashing, by failing to grasp the extent govt/BoE props would to stabilise then send property prices to the stratosphere prior to and post the 2013/4 bubble.

 

I'm not sure everyone on here is a mug. I mean I am but I'm pretty certain not everyone on here is.

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  • 301 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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