Ban on house repossessions extended but cars and goods to be seized within weeks

[AtW]

“ Banks have been banned from repossessing people’s homes until at least April, yet cars and other household goods could be seized within weeks.

People who fall behind with mortgage payments will be given a grace period until April 1. Lenders will only be able to repossess their home in exceptional circumstances, such as the person requesting it to avoid further debt.

Other credit providers, such as car leasing firms and shops with repayment schemes, are allowed to seize items from indebted customers from January 31.

The Financial Conduct Authority, the City watchdog, said: “This should only be as a last resort, and subject to complying with relevant government public health guidelines and regulations, for example on social distancing and shielding.””

Ban on house repossessions extended but cars and goods to be seized within weeks

[GigiBronz]

Which part of this of the free market theory? I can’t recall.

The rich are just protecting their pockets and stakes in the housing market.
Anyone in a situation of default would not benefit much from it maybe one more month before they end up on the street... but a young person buying a house for 20% less will probably mean a lot more...

[AtW]

Repossessing a car should be no brainer, unless in some rare circumstances (like motobility)

Repossessing a house (that person lives in) during pandemic is a wholly different level.

[GigiBronz]

Repossessing a car should be no brainer, unless in some rare circumstances (like motobility)

Repossessing a house (that person lives in) during pandemic is a wholly different level.

Nobody is stopping them to start renting, then default and give the property back.
If they can’t afford even that maybe their financial judgment wasn’t sound in the first place or the entire market is a house of cards and then it does deserve a reset.

[BR14]

geez, what a pair.

[vetran]

Whereas in Mother Russia the Party members are allocated a Dacha commensurate with their Service, they have a cardboard box with aTw's name on it.

Sadly its going to be dreadful, lots of workers out of a job and without homes.

[Whorty]

Nobody is stopping them to start renting, then default and give the property back.
If they can’t afford even that maybe their financial judgment wasn’t sound in the first place or the entire market is a house of cards and then it does deserve a reset.

It gives me such a warm and fuzzy feeling how much you care about your fellow humans. So nice you're happy to have people evicted and thrown on the streets (they won't be able to afford to rent, they will be homeless).

Maybe have a think about this, look in the mirror and decide if you like the person looking back at you

[vetran]

It gives me such a warm and fuzzy feeling how much you care about your fellow humans. So nice you're happy to have people evicted and thrown on the streets (they won't be able to afford to rent, they will be homeless).

Maybe have a think about this, look in the mirror and decide if you like the person looking back at you

We need to build and train our way out of this mess. If they build more homes the value of houses would go down, many might be put into negative equity but homes would become affordable again. If we make people more valuable they could afford more.

The loss of 'value' from £1M for a family home to say £350K would be a small price to pay except that all the investors would be upset.

[GigiBronz]

It gives me such a warm and fuzzy feeling how much you care about your fellow humans. So nice you're happy to have people evicted and thrown on the streets (they won't be able to afford to rent, they will be homeless).

Maybe have a think about this, look in the mirror and decide if you like the person looking back at you

That person should think twice before accepting a job that barey affords to pay livings costs for one month.
And when senses that things are getting though they should move out of the property and in shares house like the rest of pasents. It’s just double standards.

Society doesn’t care, it wants to give the impression that it does so that people can be manipulated and put people in place.

We have people in their 60’s working at supermarkets or hospitals that would like to resign but they can’t because they won’t receive universal credit. And won’t be able to pay rent and afford food and end up on street. That is the reality.

That is the way society works. If you are poor? Tough luck, go live on the street, but somewhere else so that I can’t see you.

Everything is a joke, people should learn to revolt and stand by what they say. Otherwise the rulling class will abuse and exploit further. GM food after brexit? Paid heathcare? I am sure they will find a way to exploit the gullible idiots that it will be “for their own good”.


Unrelated: I did not get the chance to say it, I am sorry for your loss. I might have sais some acid things in the past... don’t take them personal, sometimes I am a loose canon.

[Fraidycat]

If they can’t afford even that maybe their financial judgment wasn’t sound in the first place or the entire market is a house of cards and then it does deserve a reset.

Half the population have an IQ less than 100.
It is the banks that shouldnt have made the loans in the first place.
But reposessing people probably does more damage in the long run, to those being repoed and to society in general.

Are you looking for a reset/ house price crash so you can get on the housing ladder yourself?