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Can't see this posted anywhere. Looking through tv guide and noticed this programme about how some families have been left without a home after releasing equity from their properties.

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Guest Bart of Darkness

I've Lost My Home: Tonight

ITV 1

A report into how some families have been left without a home after releasing equity from their properties, featuring interviews with those affected. The programme also looks at a looming financial scandal connected to a new product on the market

News Magazine/Current Affairs

Tomorrow on ITV 1 from 8:00pm to 8:30pm

Link.

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Fingers crossed it will be as advertised.

Wonder what the new product is ?

Possibly the interest free loan from Barclays where you then forfeited 75% a your house price growth.

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I suspect it will be all about BMV purchasing; the latest fad on places like Singing Pig.

Until the last few weeks, when they made it 'members only', I used to enjoy reading their BMV sub forum. Lots of ex-BTLers being sold methods for 'sure fire' profits by the few great whites that like to circulate there.

What they seem not to understand is that 15% below the current market price is maybe not a great deal. Amusingly enough, this is for exactly the same reason that BTL is not viable in general now. The prices are too high!!

The best parallel I can draw is the Alfa-Romeo 166 car. The used to sell it here. Great car, but 35k, for an Alfa! The would lose 60% of their value in the first year, the market speaking volumes about the original selling price! Hence, no-one bought them, and they are no longer on the market in the UK. No doubt I could have bought one of the last ones before they stopped selling them with a 15% reduction. That does not make it a good deal. This is one of the oldest things to know in the buying game, yet still people don't get it. This time, though it is the poor idiots who sell on their houses to these BMV scumbags that have to pay for the mistakes as well, when the new 'owner' finds thay have done their sums wrong and defaults on the mortgage. Nice.

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I suspect it will be all about BMV purchasing; the latest fad on places like Singing Pig.

Until the last few weeks, when they made it 'members only', I used to enjoy reading their BMV sub forum. Lots of ex-BTLers being sold methods for 'sure fire' profits by the few great whites that like to circulate there.

What they seem not to understand is that 15% below the current market price is maybe not a great deal. Amusingly enough, this is for exactly the same reason that BTL is not viable in general now. The prices are too high!!

The best parallel I can draw is the Alfa-Romeo 166 car. The used to sell it here. Great car, but 35k, for an Alfa! The would lose 60% of their value in the first year, the market speaking volumes about the original selling price! Hence, no-one bought them, and they are no longer on the market in the UK. No doubt I could have bought one of the last ones before they stopped selling them with a 15% reduction. That does not make it a good deal. This is one of the oldest things to know in the buying game, yet still people don't get it. This time, though it is the poor idiots who sell on their houses to these BMV scumbags that have to pay for the mistakes as well, when the new 'owner' finds thay have done their sums wrong and defaults on the mortgage. Nice.

That's what I thought- BMV got a mention on the Money Prog last week.

On the subject of Singing Pig, that place is populated by utter vermin from what I've seen. The last time I went in there they were all slobbering over the "opportunites" to be found in loan sharking to the disadvantaged. Congratulating each other on their immense entrepreneurial abilities while attempting to justify their odious activities as "offering a service" and helping the poor. It was heartening to hear in moments of rare and rather bleak honesty that some of these "entrepreneurs" had lost money on it, mind.

If ever there was a web forum that deserved gassing, that was it.

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That's what I thought- BMV got a mention on the Money Prog last week.

On the subject of Singing Pig, that place is populated by utter vermin from what I've seen. The last time I went in there they were all slobbering over the "opportunites" to be found in loan sharking to the disadvantaged. Congratulating each other on their immense entrepreneurial abilities while attempting to justify their odious activities as "offering a service" and helping the poor. It was heartening to hear in moments of rare and rather bleak honesty that some of these "entrepreneurs" had lost money on it, mind.

If ever there was a web forum that deserved gassing, that was it.

Sorry to have to tell yoou guys --- this programme looks as if its been pushed aside/cancelled for the rugby....... Sinister.

http://www.itv.com/TVGuide/default.html

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That's what I thought- BMV got a mention on the Money Prog last week.

On the subject of Singing Pig, that place is populated by utter vermin from what I've seen. The last time I went in there they were all slobbering over the "opportunites" to be found in loan sharking to the disadvantaged. Congratulating each other on their immense entrepreneurial abilities while attempting to justify their odious activities as "offering a service" and helping the poor. It was heartening to hear in moments of rare and rather bleak honesty that some of these "entrepreneurs" had lost money on it, mind.

If ever there was a web forum that deserved gassing, that was it.

:lol::lol:

I love it! I just joined so I could have a look at the latest musings....

Hi Guys

With the recent changes in the property market,higher interest rates etc.

Has anyone noticed a change in percentage of Rent-Back enquries compared with those who just want to sell and move on?

Are more people struggling to pay their mortgages?

Are more people getting stuck in a chain?

Is there a higher porportion of enquiries where the vendor has no equity?

Thanks for your thoughts

Robert

Robert,

I think what you are witnessing is the credit crunch starting to bite, sub prime mortgage companies have restricted their loan to values and criteria and three secured loan companies have closed their doors due to the fact that there is no longer a market for securitisation. Clients that would have had the option a few months ago of raising cash now do not, I can only see the situation growing with these people now having very limited options if they want to stay in their own home.

:rolleyes:

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:lol::lol:

I love it! I just joined so I could have a look at the latest musings....

:rolleyes:

Revolting innit? I might join as well, marketing a new miracle treatment for "entrepreneurs" who are unable to sleep at night. It will contain strychnine.

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This time, though it is the poor idiots who sell on their houses to these BMV scumbags that have to pay for the mistakes as well, when the new 'owner' finds thay have done their sums wrong and defaults on the mortgage.

Not to mention those setting out to extract as much money from their " portfolio " as they can before disappearing.

Its already happening. :ph34r:

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