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Realistbear

Uber Bull Rag "bath Chronicle" Issues Dire Warning

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http://www.thisisbath.co.uk/displayNode.js...;pNodeId=163047

HOMES WARNING AFTER RISES IN INTEREST RATES

08:00 - 26 May 2007

The boss of Bath's independent building society fears that
rising interest rates could put many borrowers' homes in jeopardy.
Dick Jenkins, chief executive of Bath Building Society, believes people who have over-committed their finances could struggle to keep a grip of their homes.
Mr Jenkins said debt was a growing concern.
He said: "There is a slightly darker side to the sensational growth of the mortgage market.
"We're aware that
more and more people are remortgaging and taking up further advances and frittering away the increased equity they have in their property.
"At Bath Building Society we take care not to get into this merry-go-round, but I know
a lot of lenders are worried about rising levels of debt among their customer base."

As long as the VIs fuel the sheeple's MEWing they deserve to get burned. Perhaps GC2 will take down a few Building Societies due to a deluge of returned keys and missed payments. Seems Bath BS have spilled the beans on the fact that other VIs are getting scared now as the debt levels rise beyond manageable levels. But still the sheeple borrow and the VIs continue to pump out the money.

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I know a lot of lenders are worried about rising levels of debt among their customer base."

Isn't that kind of like saying 'a lot of pushers are worried about rising levels of heroin addiction among their customer base'?

If they're worried about rising levels of debt among their customers, maybe they could try... not lending to them.

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Of all the lenders out there, I have seen the Building Societies being the most frivalent in lending money for homes.

I wouldn't trust my savings in a Building Society as much as give my hard earned cash to a drug addict! In fact I'm quite pleased that I moved £15k from ING to NS&I since ING have decided to get into mortgage business (presumably funded with my savings/money).

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Isn't that kind of like saying 'a lot of pushers are worried about rising levels of heroin addiction among their customer base'?

No, it's more like saying "a lot of pushers are worried about rising death rates among their customer base".

A pusher doesn't want to kill off his market!

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LOL! Clowns.

“Buy For Uni” is the only one of its kind to be offered by a Building Society and it is hoped that it will change the situation that students have traditionally found themselves in – that of expecting to be married, or established in their careers, before they own a home.

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Of all the lenders out there, I have seen the Building Societies being the most frivalent in lending money for homes.

Frivalent?

(That really sounds like it should be a word, but I don't think it is.)

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It works! Frivolous + fraudulent = frivalent :lol:

You're right! I couldn't work out where the second half was coming from, but now it makes perfect sense. I suppose we have to allow "fraudulous" as well.

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I particularly like the small print clause...

For “Buy For Uni”, no deposit is required and up to 100% of the value of the property can be borrowed subject to status, criteria and collateral charge over parent’s property.

Bank of mum and dad then. I'm guessing it's done with some form of ultralong term to lower the repayments or even IO.

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Isn't that kind of like saying 'a lot of pushers are worried about rising levels of heroin addiction among their customer base'?

If they're worried about rising levels of debt among their customers, maybe they could try... not lending to them.

They like their victims were taking a punt on ever rising equity. A lender, not lending means no end of year bonus in the good times.....during the bad times it could mean no job.

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at least they have their own lettings agency - could come in handy for them

They're my landlords - and they're pretty damn good. :-)

But I'm not a fan of the building society.

Wemb

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I particularly like the small print clause...

Bank of mum and dad then. I'm guessing it's done with some form of ultralong term to lower the repayments or even IO.

No, I think the idea was that you fill the rest of the bedrooms up with your student friends. Well, used-to-be friends, who unaccountable and not as friendly when they're being expected to hand you £200 a month, and when you keep refusing to fix the broken bits of the house...

Wemb

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No, I think the idea was that you fill the rest of the bedrooms up with your student friends. Well, used-to-be friends, who unaccountable and not as friendly when they're being expected to hand you £200 a month, and when you keep refusing to fix the broken bits of the house...

For Bank of mum & dad I really meant the small print clause stating "collateral charge over parent’s property". Do however suppose that the owners student friends not paying could also require a withdrawal from Bank of mum & dad be theirs or there friends parents. Ah for the joys of student life. ;)

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