Weird, why didn't you bring up Art. 240 §3 EGBGB?
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Mortgage holidays extended for up to six months
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Originally posted by ladymuck View PostHow is the government taking a stake in your home? They're not guaranteeing anything are they? They're not paying the mortgage for you.His heart is in the right place - shame we can't say the same about his brain...Comment
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Originally posted by fullyautomatix View PostWith renters, its not so straight forward. I think they stopped evictions during lockdown as a safety net. That should allow someone to skip paying rent and still have a roof over the head.
If the landlord has a mortgage on the house, he can get the mortgage holiday and can sustain no rent coming in. If the landlord has no mortgage, he still can sustain no rent coming in.His heart is in the right place - shame we can't say the same about his brain...Comment
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Originally posted by ladymuck View PostHow is the government taking a stake in your home? They're not guaranteeing anything are they? They're not paying the mortgage for you.
Whether you like it or not you're taxes are being used to gurantee overextended home owners:
PM sparks alarm with plan for 95% home loans
Taxpayers face being on the hook for billions of pounds’ worth of mortgages under a “generation buy” scheme being considered by the government to get young people on the housing ladder.
Boris Johnson is reported to have asked ministers to devise plans for long-term fixed-rate mortgages with a 5% deposit. This could require the government to take some of the risk from lenders through a form of state guarantee — sparking concern among mortgage experts.
UK mortgage bank holiday - just ignore it, it's all nonsense - nothing to see here.Last edited by scooterscot; 2 November 2020, 12:21."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by fullyautomatix View PostYou are likely the least knowledgeable poster on this board. It is nothing but a mortgage holiday. Banks have been offering this for ages. Nothing changes, you still pay the same amount that you owe to the bank as before, in fact you will end up paying a bit more. It is not free money nor is the state taking an equity position in anybody's home. How bizarre of you to say that!"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Renters are already supported through universal credit, so they're getting more from the taxpayer than "owners" are towards their mortgages, which is nothing (mortgage support is now a loan payable on sale of the house).
The "mortgage holiday" is nothing more than the govt telling banks to give borrowers a payment holiday - no taxpayer involvement here. Unless you really need it, though, it's a bad idea; not only will your mortgage get bigger whilst you are not paying it, a few banks have already stated that they will be looking at whether or not a holiday was taken when considering future mortgage applications. At least one said this would result in an automatic "no", which could mean you end up on a vastly more expensive SVR deal if you are currently on a deal that ends after a few years (which most seem to, these days). That could easily be a doubling of any introductory rate.Comment
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Originally posted by Mordac View PostNot if it's his only source of income.Vote Corbyn ! Save this country !Comment
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Originally posted by Mordac View PostNot if it's his only source of income.Comment
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Originally posted by mattster View PostRenters are already supported through universal credit, so they're getting more from the taxpayer than "owners" are towards their mortgages, which is nothing (mortgage support is now a loan payable on sale of the house).
The "mortgage holiday" is nothing more than the govt telling banks to give borrowers a payment holiday - no taxpayer involvement here. Unless you really need it, though, it's a bad idea; not only will your mortgage get bigger whilst you are not paying it, a few banks have already stated that they will be looking at whether or not a holiday was taken when considering future mortgage applications. At least one said this would result in an automatic "no", which could mean you end up on a vastly more expensive SVR deal if you are currently on a deal that ends after a few years (which most seem to, these days). That could easily be a doubling of any introductory rate.
This is what is supposed to happen. The state however is drawing up the shortfall for the banks lost income from mortgage payments via the tax payer. It is somewhat incredible how well this is being swept under the carpet.
Corruption in full view of the audience and they applaud. Rock on.."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostThis is what is supposed to happen. The state however is drawing up the shortfall for the banks lost income from mortgage payments via the tax payer. It is somewhat incredible how well this is being swept under the carpet.
Corruption in full view of the audience and they applaud. Rock on..Comment
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