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It is different this time

Ohh Dear Adrian Is In Trouble

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http://forums.moneysavingexpert.com/showthread.html?t=805643

100% mortgage - Northern Rock dropping mortgage assets - how do we get a new mortgage?

Hi

We got a 100% two-year fixed rate mortgage with NR. It is up for renewal Feb 2009.

If NR is dropping 50% of it's mortgage assets, i.e. passing them on to other lenders so they can make back the money to pay the Govt, then of course we will be asked to go elsewhere for a mortgage in Feb 2009.

But we had to go with NR because no other banks were giving 100% mortgages then, so our fear is that with the current market - and probably worse in six months - they wouldn't go near us.

Would our only hope be that if our house value has risen by 3-5% that would count as 5% investment?

Any advice or thoughts on this very welcome.

I don't think I am mad in thinking the banking/lending sector as a whole in the UK can only get worse before it gets better.

Adrian

Don't worry Adrian you are not alone! Millions of brainwashed borrowers will be asking the same question. I wonder what Kirsty would advice him if he rang her on Radio 4 :lol:

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Don't worry Adrian you are not alone! Millions of brainwashed borrowers will be asking the same question. I wonder what Kirsty would advice him if he rang her on Radio 4 :lol:

The penny is starting to drop.

They have been set up as financial cannon fodder to feed Applesh*t's fantasy bonuses and Stalin's fantasy economy.

I wonder how long it will take them to make the connection?

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Next year when his house is worth 30% less and he is on a 10% SVR because no one will touch him with a barge poll it will be time to call the bayliffs in

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Don't worry Adrian you are not alone! Millions of brainwashed borrowers will be asking the same question. I wonder what Kirsty would advice him if he rang her on Radio 4 :lol:

To be fair to the bloke he does make a good point at the end....

I don't think I am mad in thinking the banking/lending sector as a whole in the UK can only get worse before it gets better.

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"Would our only hope be that if our house value has risen by 3-5% that would count as 5% investment? "

:lol::lol::lol: please stop......

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Guest X-QUORK

"Aww shucks honey, we done bought ourselves some oh that there neg-eye-tive eckwatee."

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Nice to see a mention of Adam Applegarth's name again 'the Johnny Appleseed of Crash'.

Fans of the bestseller 'Freakonomics' will understand this.

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9780435123901.jpg

Funny you should bring that up LJ - you sent me on a trip down memory lane there. I haven't kept up to date with the more recent Mole books, but interestingly wikipedia tells us that:

Having lived in relative poverty for much of his life, and for some time in London in actual squalor, he overextends himself financially, lured by the banks' promises of easy credit, and buys a converted loft apartment.

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Shame, he'll still have a mortgage, and a home, just at SVR rather than fixed. No need at all to find another lender.dont know what all the fuss is about.

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Shame, he'll still have a mortgage, and a home, just at SVR rather than fixed. No need at all to find another lender.dont know what all the fuss is about.

I'll tell you

Someone else on MSE said their svr was going to be around 11% when their fixed ended

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Oh no, another one of these MSE posts where someone has clearly decided to come online, ask no specific questions, and basically claim they are a total idiot.

All in a tone that is totally unrealistic...

I would suggest whomever writes this trash goes and gets a job writing soap operas, because you're not fooling anyone!

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Oh no, another one of these MSE posts where someone has clearly decided to come online, ask no specific questions, and basically claim they are a total idiot.

All in a tone that is totally unrealistic...

I would suggest whomever writes this trash goes and gets a job writing soap operas, because you're not fooling anyone!

The thing is though britain is full of proper mongs look at the most watched tv shows and most read news papers

We are the speciall needs of planet earth

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Mortgage:

£178,988.00 after 1st Jan payment (wahey! sub £179K for one day) action-smiley-033.gif

£178,799.67 after 1st Feb payment (wahey! sub £179K for 9 days) action-smiley-033.gif

£178,565.61 after 1st Mar payment (wahey! sub £179K for 20 days) action-smiley-033.gif

I hope pollyanna24 will change her sig sometime in the next 25 years!

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I take Pollyanna24

is paying

off about £234 a month of on the mortgage of £179K???

:blink:

How much does she/he earn a year - £10K a year assuming 1/3 of her/his wages go on mortgage payments.

Thats 18x earnings????

Theres another thing - have they factored in interest Vs capital payments?

Edited by notanewmember

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"Pollyanna's philosophy of life centers on what she calls "The Glad Game", an optimistic attitude she learned from her father. The game consists of finding something to be glad about in every situation." (from Wikepedia)

She may need it...

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I take Pollyanna24

is paying

off about £234 a month of on the mortgage of £179K???

:blink:

How much does she/he earn a year - £10K a year assuming 1/3 of her/his wages go on mortgage payments.

Thats 18x earnings????

Theres another thing - have they factored in interest Vs capital payments?

The balance fell by <£200 in January and >£200 in February so I assume she's making overpayments to reduce the capital. I don't understand how she can be sub £179k for 9 days in January and 20 days in February. Perhaps this is to do with the dates on which the interest was added and the overpayment deducted. It sounds like she's paying way too much attention but if she knows she needs to reduce her debt and she's doing something about it then great, it's just that there's no need to share so much detail!

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  • 298 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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