Nationalist Posted October 8, 2007 Share Posted October 8, 2007 I can't see this posted so I thought I'd draw attention to it. The trailer said lenders (insert vomit smilie here) have been giving 16x income loans to people on benefits! (I must have blinked and missed the introduction of mortgages for the unemployed. How does that work? Surely HB only pays rent? I thought NINJA was just for Americans.) Quote Link to comment Share on other sites More sharing options...
sikejsudjek Posted October 8, 2007 Share Posted October 8, 2007 A Barclays manager admitted to me in 2004 that they lent a mortgage to a student with no income. Because their lending was based on how his bank account was run and not income, he qualified for a mortgage ! Quote Link to comment Share on other sites More sharing options...
Antsy Posted October 8, 2007 Share Posted October 8, 2007 On Friday on BBC 2 at 7pm they have a programme called 'Buy to debt' looking at what effect BTL has had on the stability of the housing market. Will be sitting down with a beer for that one. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted October 8, 2007 Share Posted October 8, 2007 (edited) http://www.moneymarketing.co.uk/cgi-bin/item.cgi?id=151542 Panorama investigation shows 70 per cent of repossessions are from sub-prime market Tanya Powley - 08-Oct-2007 BBC programme Panorama will report on research which has found that seven out of ten homes repossessed in recent months were owned by sub-prime mortgage borrowers. Research shows that sub-prime borrowers equate for more than 70 per cent of 7,000 homes repossessed in the last three months. Panorama, which features tonight at 8.30pm on BBC 1, will feature one borrower - David Bradbury - who was given a 25-year £55,000 mortgage to buy his council house despite living on benefits and being in poor health. Bradbury now pays an interest rate of over 11 per cent and he and his wife have faced a repossession hearing. Council of Mortgage Lenders’ statistics show that seventy-seven homes were repossessed every day in the first half of the year, the highest rate for eight years . No subprime in the UK eh. We have been lied to by the VIs. Edited October 8, 2007 by Realistbear Quote Link to comment Share on other sites More sharing options...
DabHand Posted October 8, 2007 Share Posted October 8, 2007 No subprime in the UK eh. We have been lied to by the VIs. You shaken my whole world view. Quote Link to comment Share on other sites More sharing options...
vfr Posted October 8, 2007 Share Posted October 8, 2007 I can't see this posted so I thought I'd draw attention to it.The trailer said lenders (insert vomit smilie here) have been giving 16x income loans to people on benefits! (I must have blinked and missed the introduction of mortgages for the unemployed. How does that work? Surely HB only pays rent? I thought NINJA was just for Americans.) There was time that 'panarama' ran shocking new stories. Quote Link to comment Share on other sites More sharing options...
R K Posted October 8, 2007 Share Posted October 8, 2007 70% of people who can't pay their debts are people who who have financial problems. No sh*t! In next week's panorama they investigate the ludicrously high number of hospital patients who are suffering an illness. One doctor (who did not wish to be interviewed on camera) admitted he sometimes admitted patients knowing that they were already ill. Quote Link to comment Share on other sites More sharing options...
Flat Bear Posted October 8, 2007 Share Posted October 8, 2007 70% of people who can't pay their debts are people who who have financial problems.No sh*t! In next week's panorama they investigate the ludicrously high number of hospital patients who are suffering an illness. One doctor (who did not wish to be interviewed on camera) admitted he sometimes admitted patients knowing that they were already ill. And the week after the possible connection between over eating and obesity will be explored. Quote Link to comment Share on other sites More sharing options...
Kurt Barlow Posted October 8, 2007 Share Posted October 8, 2007 There was time that 'panarama' ran shocking new stories. In Britannia today the manager told me that the whole industry is $hitting bricks over misselling. On my way back couldnt help glancing in the EA windows and seeing the staff sitting there with nothing to do Quote Link to comment Share on other sites More sharing options...
BandWagon Posted October 8, 2007 Share Posted October 8, 2007 On my way back couldnt help glancing in the EA windows and seeing the staff sitting there with nothing to do That's nonsense. There's always Solitaire. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted October 8, 2007 Share Posted October 8, 2007 In Britannia today the manager told me that the whole industry is $hitting bricks over misselling.On my way back couldnt help glancing in the EA windows and seeing the staff sitting there with nothing to do Surely thats the least of their problems? Getting back the money they loaned out should be their number one priority, especially if its my pension fund thats bought their s**t. Quote Link to comment Share on other sites More sharing options...
PricedOutNative Posted October 8, 2007 Share Posted October 8, 2007 Nearly forgot about this program, cheers! Bump. Quote Link to comment Share on other sites More sharing options...
Guest Popalot Posted October 8, 2007 Share Posted October 8, 2007 6.00pm BBC News VERY bearish on property...and Brown......oops there go Auntie's bloomers. Quote Link to comment Share on other sites More sharing options...
US Citizen Posted October 8, 2007 Share Posted October 8, 2007 70% of people who can't pay their debts are people who who have financial problems. I suppose the other 30% cant pay their debts because of religous reasons or they didnt understand the question being asked. Quote Link to comment Share on other sites More sharing options...
grey shark Posted October 8, 2007 Share Posted October 8, 2007 In Britannia today the manager told me that the whole industry is $hitting bricks over misselling. Thought i could smell something as i strolled past the bank today . Quote Link to comment Share on other sites More sharing options...
0q0 Posted October 8, 2007 Share Posted October 8, 2007 (edited) I shall be watching the stars of Minder reunited on Virgin 1 (formerly FTN). Did programmes such as Panorama signpost the dangers of sub-prime before? No? Then I've no time for their attention-seeking show now, it's best viewed by those for whom it's news. Horse, stable door, and all that. Of course, we won't mention Tonight on ITV that warned of a property slump far too early - I think even 4 years ago. That was proof that the media can't always sway general opinion at all as prices climbed and climbed after their initial programmes, didn't they. How embarrassing for the experts and the poor STRs featured back then, I'm not taking the p at all, genuinely feel for them. Edited October 8, 2007 by The Last Bear Quote Link to comment Share on other sites More sharing options...
grey shark Posted October 8, 2007 Share Posted October 8, 2007 bump , now BBC1 Quote Link to comment Share on other sites More sharing options...
JBFTB Posted October 8, 2007 Share Posted October 8, 2007 Can't believe this is actually the BBC. It's just one big beargasm so far. Although there seems to be a lot of "this is affecting people with little/no income" as if to imply that everyone else can easily afford it. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted October 8, 2007 Share Posted October 8, 2007 Right to buy. What a good idea that was! Quote Link to comment Share on other sites More sharing options...
ziknik Posted October 8, 2007 Share Posted October 8, 2007 It looks like they are only going to show a few extreme examples. I hope they also show a couple of young professionals who took out 6x earnings for a city centre flat expecting future wage rises to see them right. Quote Link to comment Share on other sites More sharing options...
Mancghirl Posted October 8, 2007 Share Posted October 8, 2007 This is a fun watch. Quote Link to comment Share on other sites More sharing options...
grey shark Posted October 8, 2007 Share Posted October 8, 2007 It looks like they are only going to show a few extreme examples. I hope they also show a couple of young professionals who took out 6x earnings for a city centre flat expecting future wage rises to see them right. Yes looks like it so far , only telling us stuff we already know , simple people just being ripped off . Quote Link to comment Share on other sites More sharing options...
US Citizen Posted October 8, 2007 Share Posted October 8, 2007 The wife wants to watch Nigella Lawson scoff herself again. For the single and emancipated among us, please can you post comments and highlights to those like myself whom get watch obsesity from the stalls. Quote Link to comment Share on other sites More sharing options...
Willy Weasel Posted October 8, 2007 Share Posted October 8, 2007 Right at the start one guy stated that the UK was a more obvious example of a housing bubble than the US Quote Link to comment Share on other sites More sharing options...
mbga9pgf Posted October 8, 2007 Share Posted October 8, 2007 (edited) It looks like they are only going to show a few extreme examples. I hope they also show a couple of young professionals who took out 6x earnings for a city centre flat expecting future wage rises to see them right. Selfcert. its not the crack-den single mothers you want to be worried about, its the millions of professionals that had to lie to join the biggest pyramid scheme in history... Ouch. Its gonna hurt. Watching this, I feel numb inside. Would any of us expected the BBC to screen this even two months ago? The tide has turned, its unfortunately for millions, the start of a very very painful downhill slope. I am just glad I listened to this website and now have 60% of 1 year's salary in savings.... As for Nigella, I am sorry, but if I wasnt married, she would get it.... HARD! Edited October 8, 2007 by mbga9pgf Quote Link to comment Share on other sites More sharing options...
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