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UK mortgage payment holiday extended by three months  


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Can kicking but just delaying the inevitable.

A significant proportion of these 1.8 million home owners will not have a job and be unable to afford the mortgage payments. Only question then will be, what appetite do the VI's have of continuing to support these mortgage holders?

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This is utterly ridiculous. Whats the justification?

I feel bad for the people thinking they're getting 6 months off payments with no harm to their credit

Good luck at the remortgage.

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Just read more than one comment on BBC news HYS on how they are getting enough money on furlough but are taking the mortgage holiday as well. 

It just beggers belief and confirms what I keep saying, we live in a "forget paying for it today and lets worry tomorrow" culture. One guy said he was getting more than enough on furlough to pay the mortgage, but was talking the mortgage holiday because he doubted he would have a job when he gets back, Duh!!

F*****g unbelievable, this very same guy  I am willing to bet will be trying to ponce yet more taxpayer money in several months when he is in even more trouble.

By the way, I hope more of you are not paying your rent are soon considering it, the government is putting all it's effort right now into "struggling homeowners" and f*** the rent classes.

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9 minutes ago, longgone said:

remind me what the furlough money was for again ?

Presumably if you are furloughed you can't get a mortgage holiday?  This should only be for people who are not getting any money.

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1 minute ago, iamnumerate said:

Presumably if you are furloughed you can't get a mortgage holiday?  This should only be for people who are not getting any money.

Anyone can get it even BTL.

Same with the £50k bounce back loans. Checks and policy take time. This is all just rush out the door as quickly as possible. Thoughts ref impact come later if at all

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1 minute ago, iamnumerate said:

Presumably if you are furloughed you can't get a mortgage holiday?  This should only be for people who are not getting any money.

who is going to check ?? i would have thought they would get both.  what`s next debt forgiveness. ? just keep the house don`t bother to work or pay the mortgage. 

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Just now, crumblingcon said:

 

It just beggers belief and confirms what I keep saying, we live in a "forget paying for it today and lets worry tomorrow" culture. One guy said he was getting more than enough on furlough to pay the mortgage, but was talking the mortgage holiday because he doubted he would have a job when he gets back, Duh!!

 

That is crazy

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Just now, iamnumerate said:

That is crazy

Logically why? He can get the mortgage holiday now but might not be able to in 3 months time.

He has income now but might not have any in 3 months time.

He saves his cash now, to spend it on the mortgage/liabilities when hes looking for another job?

Just  cashflow management rather than crazy.

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My brother has taken the 3 month payment holiday and no doubt will take another three months. He hasn’t stopped working and I anything he is earning more now than before the lockdown due to his skill set. When I asked why - he said why not. He will save about £6k in mortgage payments for the first three months and then another £6k for the second. £12k straight into his savings account which are already plentiful.

Am I the mug for not taking up this offer as I have no immediate need for it?

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2 minutes ago, longgone said:

who is going to check ?? i would have thought they would get both.  what`s next debt forgiveness. ? just keep the house don`t bother to work or pay the mortgage. 

Here is the government message that should have been put out long ago..

"For people who have saved hard for a rainy day, who have controlled their debt, have lived within their means and are able to absorb financial shocks, at least for a while, I say this... YOU BUNCH  OF F*****G IDIOTS"

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Just now, captainb said:

Anyone can get it even BTL.

Same with the £50k bounce back loans. Checks and policy take time. This is all just rush out the door as quickly as possible. Thoughts ref impact come later if at all

Sadly I stand corrected - 

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Just now, crumblingcon said:

Here is the government message that should have been put out long ago..

"For people who have saved hard for a rainy day, who have controlled their debt, have lived within their means and are able to absorb financial shocks, at least for a while, I say this... YOU BUNCH  OF F*****G IDIOTS"

That was the... no benefits if you have £16k+ in savings whatsoever.. but we are increasing housing benefit by another 10%.. so £1,200 pcm for a two bed flat in east London for everyone else. 

That was the official memo.

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7 minutes ago, captainb said:

Anyone can get it even BTL.

Same with the £50k bounce back loans. Checks and policy take time. This is all just rush out the door as quickly as possible. Thoughts ref impact come later if at all

how do i get the 50k free money 

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6 minutes ago, cbathpc said:

This is utterly ridiculous. Whats the justification?

I feel bad for the people thinking they're getting 6 months off payments with no harm to their credit

Good luck at the remortgage.

I don't think it will impact remortgaging at the current bank as long as you haven't been in arrears. Very little does.

The last time I'd remortgaged I'd taken on a £15k loan, my wife had quit her full time job and we'd had 2 kids, all I had to do was sit on the phone for 5 minutes picking my preferred remortgage product then turn up at a branch with my ID (o ly because they'd lost my ID from my initial application) 

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Will they have to pay extra interest on the delayed mortgage payment like I once had to? Around 11 or 12 years ago when I was a mortgagee I asked to delay a payment but I had to pay a whopping £60 extra for doing so.

I heard of a similar situation on Radio 4 a few weeks ago regarding a delayed car payment, extra interest lumped on top.

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3 minutes ago, captainb said:

Logically why? He can get the mortgage holiday now but might not be able to in 3 months time.

He has income now but might not have any in 3 months time.

He saves his cash now, to spend it on the mortgage/liabilities when hes looking for another job?

Just  cashflow management rather than crazy.

Yep, but I am paying his wages now to pay his bills, not to give him 6 months credit which he may or may not pay back when it gets tougher for him.

OK, he is playing the system and who can blame him, maybe more of us should have done the same on here rather than live in a fantasy world where we think education, hard work will pay off one day

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2 minutes ago, crumblingcon said:

Here is the government message that should have been put out long ago..

"For people who have saved hard for a rainy day, who have controlled their debt, have lived within their means and are able to absorb financial shocks, at least for a while, I say this... YOU BUNCH  OF F*****G IDIOTS"

seems that way, no masks or ventilators for those kinds of people ;) 

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Just now, longgone said:

how do i get the 50k free money 

Have a company, get a company bank account, accidentally put turnover of 200k on the form, get 50k paid, pay a dividend of 50k, close the company.

Thats the current scam. 

There is no claim on personal assets of the directors and the bank is 100% covered by the mug sorry taxpayer.

So any investigation would come from HMRC who while they have the powers would need to goto the high court (as over £5k) to lift the corporate shield and even then as the creditor is offically the bank rather than them its not 100% certain you would get there.. all assuming HMRC can be bothered in the first place to go through that.

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2 minutes ago, MattW said:

Will they have to pay extra interest on the delayed mortgage payment like I once had to? Around 11 or 12 years ago when I was a mortgagee I asked to delay a payment but I had to pay a whopping £60 extra for doing so.

I heard of a similar situation on Radio 4 a few weeks ago regarding a delayed car payment, extra interest lumped on top.

Yes. This is right. 6 months will probably add a reasonable amount in compound interest over the term and, unless the mortgage provider is happy to extend the term by 6 months, increase the repayment proportionally. 

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  • 415 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% +
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      • up 5%



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