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One In Five 'have Mortgage Fears'

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One in five 'have mortgage fears'

One in five mortgage holders are worried about meeting their repayments in the next 12 months, according to the Financial Services Authority (FSA).

And a quarter of those do not have any plans for dealing with the issue, the poll for the financial regulator found.

http://news.bbc.co.uk/1/hi/business/7275485.stm

The other four are the typically ill educated, spoon fed on BBC propaganda,C4 property porn, kept in the dark and fed on sh*t.

By the way, Dudai, this ones about houses look ;)

Damo

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One in five doesn't sound many.

However, when you consider that probably half of all outstanding mortgages are on houses that were bought years ago and are consequently for comparitively small amounts, this is firm evidence that real fear is definitely creeping in amongst the financially stretched.

I have spent my whole life in the furniture industry, at various times as manufacturer, importer, wholesaler, and retailer. Phoning round friends and collegues recently the unanimous report is that trade has completely collapsed since November. Look on the telly. The sofa companies are still advertizing their sales - even in March!

The official figures won't be out for a while, and even then will be massaged to avoid further panic.

Take it from me though, the recessionary pressures are building as we speak.

Edited by Mr Yogi

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Heard this on R4 while driving to work.

1 out of five is many IMHO. Someone mentioned that most mortgages were taken out when it was financially viable, and still, 20% of the total mortagors are scared...

That tells me a lot...

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Indeed. It really depends on how the question was phrased. It was probably "Are you worried about your mortgage repayment?". 20% sounds a reasonable figure for people who might be aware of the financial issuees we are facing today.

However, if they had asked "Would you be worried if the interest rate increased by 2%/3%/5% (delete as appropriate) I think they might have had a slightly different response.

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Did anyone see Fatty "Property is the only safe investment" Curry this morning on BBC Breakfast with some mortgage bloke. I don't even listen normally as if I tune fatboy out, I don't get anger issues. They were advising what to do if people are struggling. Surely Fatty can't doubt the property market. Surely as a good investigative journalist he was aware of these problems a year or more ago?

My favourite advice if you have a capital and interest mortgage was to switch to a I/O and overpay it!!!!!!!!!!!!!!

:blink:

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I have spent my whole life in the furniture industry, at various times as manufacturer, importer, wholesaler, and retailer. Phoning round friends and collegues recently the unanimous report is that trade has completely collapsed since November. Look on the telly. The sofa companies are still advertizing their sales - even in March!

Me and missus went to look at dining table the other day. Amazing what you can get for 400£ (our budget). Solid oak table with four chairs!

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Check out the boxed quote in the article ...............

We appreciated that it was a risk to borrow more than the value of the property

Hannah Al-Rifai, Mortgage holder

:blink: They must now pay for there ignorance and stupidity .

Edited by grey shark

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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