Jump to content
House Price Crash Forum
Sign in to follow this  
gruffydd

A Great Listen - Uk Sub-prime On Bbc R5 Live

Recommended Posts

Listen to the FSA guy at the end - our friend Ray suggests banning brokers from business. The FSA bloke answers a different question. Being a PR guy, I'm very tuned into this type of technique. I really am not entirely sure about his claim that the FSA had put alot of brokers and some broking firms out of business, for mis-selling mortgages, either. Will look in to this.

Have looked into this briefly and this is all I can find about financial advisers being closed down by the FSA< and not for mis-selling mortgages.

http://www.thisismoney.co.uk/news/columnis...p;in_page_id=19

Edited by gruffydd

Share this post


Link to post
Share on other sites

Extract: "Against this background of rampant mis-selling and the trail of misery it has left over decades, it seems incredible to report that it was only last week that the Financial Services Authority banned David M Aaron (Personal Finance Planners) Ltd for mis-selling precipice bonds in the late 1990s and the early 2000s.

It beggars belief that David Aaron Ltd, based in Woburn Sands, Buckinghamshire, is the first firm of financial advisers to be banned by the FSA for the specific financial crime of mis-selling. "

Share this post


Link to post
Share on other sites

I only caught a bit of this, but the problems that were being mentioned on the bit I heard were exactly the same problems that I had read was happening over on the US: agressive selling and no worrying about the ability to repay.

No sub prime over here?

Yeah, right.

Share this post


Link to post
Share on other sites
Guest Shedfish

i just saw a preview of tomorrow's Panorama on News24 - from the trailer it looks like it won't pull any punches

Share this post


Link to post
Share on other sites
I only caught a bit of this, but the problems that were being mentioned on the bit I heard were exactly the same problems that I had read was happening over on the US: agressive selling and no worrying about the ability to repay.

No sub prime over here?

Yeah, right.

i have no worry about their ability to repay - if they can't repay, reposess - prices down

Share this post


Link to post
Share on other sites

I was listening to 5live at about 11am this morning and the UK subprime figure was quoted as 8% (not sure if this is all mortgages or mortgages over the last year or something). but its the first time I've heard a specific figure mentioned, anywhere.

One story during the programme was crazy - two people in their late 50s, on benefits, given a 55K mortgage over 25years. The daughters income was taken into account too, but she's also on benefits :lol::lol: unbelievable! These couple of numpties signed on the dotted line but didn't read the small print, because they can't furkin read :o:lol:

What a shocker! Now their entire income goes on the mortgage. they can't even afford to eat cat food :lol:

I feel some sympathy for them. but they probably saw it as some get rich quick scheme and were more than likely pushed into it by the daughter. what a sick world we live in :lol:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 350 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.