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numpty

Compensation -when The Crash Comes!

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My wife and I had our fingers burnt in the crash of 1989/93, but we got out of the mortgagees debt recovery units claws by arguing we did not understand what a Mortgage Indemnity policy was. Then when our endowment failed to reach its target we picked up compensation there along with our windfall from the pensions miss selling debacle. Add to this the various carpet bagging exercises we did using all our friends and family we went looking for property and on the way tripped over the pavement and received some more compensation. We then bought a number of BTL properties. Now our concern is this, having read your web site we could lose all our equity if prices fall so we need to be clear in our minds who is to blame, because where there blame there is a claim (so we are told on the satellite channels we watch during the day). Both my wife and I are on sick leave due to stress (not helped by your web site!) and have time on our hands to get prepared.

So who is to blame? the government they started it all off in a budget speech I remember as a way of easing the housing crises by placing it in the private sector. Or could we blame the estate agents who sold us the properties or the mortgage companies that we prepared to lend us the money without spelling out the dangers of making such an investment. Also consider Phil and Kersty and that rather well endowed Sarah Beaney, all making various claims about house price rises and I doubt whether they are registered with the FSA, if they were we would have to listen long winded disclaimers…could be an angle there. Somebody will have to pay if we lose out. Its only fair. A friend of ours even suggested that the local authority might be to blame for not educating us about such matters when we were at school. Another suggested it could be our own fault. The emergency services were called and I argued he started it and besides there were not witnesses.

Anyway we have done our bit to help the economy and we hope to be off to Spain once this is all sorted as all this immigration is getting us down. We will not be classed as foreigners were British!

But seriously I do feel that a number of BTL investors may not fully appreciate that if the property was taken back and sold they would be pursued for the loss and as they will own other property they will of course be fairly easy targets. And needless to say the risks of investing in BTL were of course not fully explained. Not only will there be tears before bedtime but plenty on blaming and claiming.

:o

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it wasnt even worth an awooga it was so lame.

even a cociane fuelled hedgehog could have sniffed this out amongst the stench of twenty thousand racid radishes.

my 'snappy' reply was better. we need more of a challenge than this bedtime boast brandisher.

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Oh C'mon guys, that was a superbly ironic piece. Funny and quite telling about the lame attitude of people who can't be bothered to work out for themselves what is or is not a good deal.

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Oh C'mon guys, that was a superbly ironic piece. Funny and quite telling about the lame attitude of people who can't be bothered to work out for themselves what is or is not a good deal.

Thank you. I can, in my mind, see the financial pages of the Mail on Sunday with pictures of sad faced individuals moaning and wailing about how the whole BLT dream went horribly wrong and expecting somebody to bail them out, or guide them as to who they could seek damages from.

We seem to be in a culture which enjoys taking risks and boasting about the rewards, but when it goes wrong will turn on everyone demanding compensation.

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Oh C'mon guys, that was a superbly ironic piece. Funny and quite telling about the lame attitude of people...

Of course, when a contributor of a bullish disposition posts a superbly ironic piece that is funny and quite telling about the lame attitude of people, the screams of TROLL knock pictures off walls in Japan.

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I thought it was funny, and if it did happen, I bet there would be some who would claim that the risks hadn't been

explained.

I wonder if that guy who gambled 100K on credit cards and stepped in front of a train could've got his money

back saying he wasn't told of the risks? :rolleyes:

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Thank you. I can, in my mind, see the financial pages of the Mail on Sunday with pictures of sad faced individuals moaning and wailing about how the whole BLT dream went horribly wrong and expecting somebody to bail them out, or guide them as to who they could seek damages from.

We seem to be in a culture which enjoys taking risks and boasting about the rewards, but when it goes wrong will turn on everyone demanding compensation.

It does worry me somewhat that when this all goes tits up there will be people trying to get compensation.

Would any of them have any leg to stand on?

- how about the misselling of IO mortgages?

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It does worry me somewhat that when this all goes tits up there will be people trying to get compensation.

Would any of them have any leg to stand on?

- how about the misselling of IO mortgages?

If they can show that the banks/companies didn't inform them of the risks of not taking out payment plans to pay off capital OR that they put IO mortgages at the highest levels they could afford so the lenders *knew* they'd not be able to afford a repayment scheme for the capital.

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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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