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Something That May Make It Different This Time.

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HPC has arrived and the rest of the economy is looking a bit iffy as well. :unsure:

If you lose your job and have to rely on benefits, one of these is assistance with the interest element of your mortgage. :rolleyes:

There was a limit on this and I think that there still is. IIRC correctly it was last set in 1995. Again, IIRC, the limit is set on borrowing of £100,000.

Methinks that most current mortgages were taken out later than 1995 and that a high proportion of them are well above £100,000.

I’m not sure that lenders will be that understanding for very long and I don’t think that Mr Darling is going to be busting keen on linking this benefit to HPI. He might be happy to link it to CPI. :o

Any views from posters who know more about this? Could it put downward pressure on vendors' expectations? - like no choice.

p-o-p

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I could be mistaken but I seem to remember reading on here somewhere that the mortgage protection only kicks in after being out of work for 9 months. I'm sure the debt stats said that the average person could only survive for 2 weeks if their source of income was cut off. Slight mis-match there.

Can anyone confirm?

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