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pobby

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"Hi ! my friend and her husband took on a huge 100% mortgage about 2 years ago and now they've had a big drop in income and can't afford to live there anymore. I know for a fact that they lied about their income to get the mortgage. I'm pretty sure they have other loans and credit card debt too!"

well it does say in the commandments "thou shalt not lie...." you have been warned

Edited by notanewmember

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I thik that mony lessns should be mandatory in alll schools and you need to take GCSEs it in and everyhthing.

It is sad though. lying is wrong but 'live now' as they say.... 'pay later'

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"Hi ! my friend and her husband took on a huge 100% mortgage about 2 years ago and now they've had a big drop in income and can't afford to live there anymore. I know for a fact that they lied about their income to get the mortgage. I'm pretty sure they have other loans and credit card debt too!"

well it does say in the commandments "thou shalt not lie...." you have been warned

From the same thread:

"I certainly know estate agents have hinted heavily towards exploiting / turned a blind eye to this self-certification loop hole - it seems to be how they've managed to maintain overinflated prices for the last 3 years "

It's a systemic thing.

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i did lessons in money in my maths classes... though you dont really think about the implications with the excitement of owning your own house at the time i suppose.

These FTBs have been mislead by their advisors, the media, and all other vested interests to get on the housing ladder at all costs.

My god, i havent read the MSE forum for a while... there are some people on there who are really upto their necks in it

Edited by notanewmember

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i did lessons in money in my maths classes... though you dont really think about the implications with the excitement of owning your own house at the time i suppose.

These FTBs have been mislead by their advisors, the media, and all other vested interests to get on the housing ladder at all costs.

I remember watching a pretty good programme on BBC2, Autumn 2003 (!), about the self-cert fraud that was obviously going. It were proper bo.

What was the upshot? Some government whitewash of the industry, if memory serves.

Self-cert hasn't received much discussion on here of late, but post-crash it will definitely be a topic of investigation.

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Self-cert hasn't received much discussion on here of late, but post-crash it will definitely be a topic of investigation.

Yup, looking at Watchdog tonight we're still seeing the fall out from with profits bonds bought at the peak of the market, along with precipice bonds these investments are a drop in the ocean compared to IO and self-cert mortgages, they've underwritten thousands if not millions of these.

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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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