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Bbc Website - Repossession Stories


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My wife and I bought the £195,000 house in Norwich in October 2006 with a 75% mortgage, paying interest at 7.25%.

At the start, we were able to keep up the payments between my wife's job as a classroom assistant and mine at Norwich airport, where I was earning £14,000 a year.

Jesus Christ - how anybody involved in setting up this mortgage ever managed to make the figures add up, I will never know.

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:blink::blink:

Anyone losing faith in HPC should read that. That's just incredible, well to me anyway. I daresay the situations are not atypical.

An unemployed couple with a c.170k mortgage on a right to buy :huh:

The government discount was very attractive. We paid £15,000 and the government put in £16,000. That left us with a mortgage of about £167,000.

We had to pay interest at 9.8%, which I was advised was the best I could get at the time because of credit problems, as neither my wife nor I were working.

To meet the payments, my wife worked part-time at a doctor's surgery and I started to run my own catering business

Surely this can't be true? Can it?

If so guess what happened to the part of the loan that we provided. It makes me sick.

Edited by frozen_out
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Guest mattsta1964
...

Genius.

I'm just staggered! Gobsmacked

Ok, so the guy was very naive and foolish but you can't just point the finger at him and say it's all his fault

Who the hell sold him the mortgage and why aren't they in gaol?

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It gets worse as said Michelle a secretary at my old work place by 22 had a 210K house, her and her BF made between them 21K....

They kept mewing and selling mewing and selling and would rub new cars new TVs new everything constantly in my face...

She is > < from bankruptcy she has at least 30K on credit cards and can't sell the house to cover the mortgage or the debt, bankruptcy looms for her ,

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My wife and I bought the £195,000 house in Norwich in October 2006 with a 75% mortgage, paying interest at 7.25%.

At the start, we were able to keep up the payments between my wife's job as a classroom assistant and mine at Norwich airport, where I was earning £14,000 a year.

-----

"look mummy, there's a Liar Loan"

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It makes me retch that it was these kind of gutter snipes helping to keep me priced

out of the market. How did anyone ever think any of this made any sense?

.

ST

Yep, the same fkcuwits I had sneering at me from their MEWed 4x4s while I was walking home from the super market with my shopping in my super size ruck sack and LIDL bag... whos laughing now... and still people have the cheek to have a go at us for enjoying this!

Bring it on I say

:angry:

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This is just appalling!

Story one: £167,000 mortgage given to an unemployed couple

Story two: £150,000 mortgage given to couple on <£30k/year

Story three: Accountant on £20k/year gets £580,000 worth of mortgages for five city-centre buy to lets when he already has two BTL properties in London

None of these people should ever have been given mortgages. There's just no way that any government scheme to help 'struggling homebuyers' can or should try to help stave off repossession for these three. They should all be repossessed, go bankrupt and start again on a more sensible footing.

Surely this sort of dreadful lending practice is worse than that in the late 80's?

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:blink::blink:

Anyone losing faith in HPC should read that. That's just incredible, well to me anyway. I daresay the situations are not atypical.

An unemployed couple with a c.170k mortgage on a right to buy :huh:

And the last guy - 20k salary and 7 highly leveraged BTLs. It beggars belief!

Edited by wootton
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Guest theboltonfury
:blink::blink::blink: :angry: :angry: :o:o WTF???

I am not sure I can believe anything I have just read

come on, where's the joke?

On 14k a year you can barely afford a big shop in Lidl, never mind a ******ing house

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Yep, the same fkcuwits I had sneering at me from their MEWed 4x4s while I was walking home from the super market with my shopping in my super size ruck sack and LIDL bag... whos laughing now... and still people have the cheek to have a go at us for enjoying this!

Bring it on I say

:angry:

I agree. What's the point of these beeb sob stories exactly? Are we meant to feel sorry for these people who have effectively stolen from us?

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Staying with the accountant's story here too:

I wish the government had better protection for consumers as I had got my original mortgages for the Birmingham flats in minutes. Government should stop these unscrupulous deals.

This just follows on so nicely from those attempted lawsuits by fat folks saying Ronald McDonald made them do it! Have we no personal responsibility these days at all? Repossession is too good for these sorts. This is Darwin's theory of evolution in action and as much as Gordon would like to hinder that evolution, I would prefer to help it along. <_< *hmph!*

Edited by exception
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I agree. What's the point of these beeb sob stories exactly? Are we meant to feel sorry for these people who have effectively stolen from us?

Hmmmm... I've just had an awful thought. /tinfoil hat on/

Is the point of these stories to actually build up anger against these kind of folks and make the idea of owning any property abhorrent?

/tinfoil hat off/

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That left us with a mortgage of about £167,000.

We had to pay interest at 9.8%, which I was advised was the best I could get at the time because of credit problems, as neither my wife nor I were working.

Honestly! WTF!

.

Me and the Mrs (to be) pull in >£60kpa (gross) and I would have a serious sweat on signing a

mortgage for £167,000. But once they take on this MASSIVE debt his wife takes some hours down

the drs. surgery! What a nice life.

.

The BTL'er can rot in Herpes infested hell for all I care. 7 properties on £20k per year?

Can't even be a very good accountant. Pr1ck.

.

ST

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