Mortgage firms rush to repossess homes as families feel credit crunch

[oracleslave]

So by your rationale you should take a mortgage for any amount you like and not consider how you're going to pay it back? FFS

I never said that at all. I just don't necessarily wish ill on others that get themselves into trouble through ignorance, a bad choice etc.

[Diver]

And your suggestions are?

How about forcing those lenders that are charging exorbitant interest rates, to reduce rates in line with the high street lenders. 9% interest rates are ridiculous when high street figures average 5.8%

[oracleslave]

Ten trillion flies consume excrement... that doesn't mean I want to share their meal...

Agreed, although am not sure that from your cave in Swansea is the best place to comment on the merits of London.

[Ruprect]

How about forcing those lenders that are charging exorbitant interest rates, to reduce rates in line with the high street lenders. 9% interest rates are ridiculous when high street figures average 5.8%

Hmm you're not an economist are you!?!

[Bagpuss]

I blame the banks for this credit bubble. If you flood enough money into any market this kind of thing will happen, money becomes cheap and people act cheaply with it.

I always consider the angles before borrowing:

1 Can I afford the repayments?
2 What if interest rates double?
3 Will I have a buffer for unforseen expenses?
4 What if I'm out of work?

It seems most people these days only consider 1, and that's based on a heavily discounted rate. As I've bored you all to tears with before, this will end is disaster, human behaviour has not somehow evolved since the last crash. It's time for money to be hard come by again


PS Diver 5.8% average is not the APR (APR includes the hidden costs, APRs are circa 7%)

[Sockpuppet]

About 7.5 million of them. Shurely they can't all be wrong?

Elvis has more fans and he's tulip.

[wendigo100]

I blame the banks for this credit bubble. If you flood enough money into any market this kind of thing will happen, money becomes cheap and people act cheaply with it.

Yes, people need protecting from themselves.

[Sockpuppet]

What drivel. Just because you didn't have the guts to take a leap when the opportunity was there you now wish ill on others? You hope to see families in the streets?

Sorry for being born in the mid eighties. Next time I'll ask my parents to knock me out a few years earlier so I could have grown up in time to catch the boom.

I mean I would have liked to taken on a mortgage at eleven but the banks didnt like my credit score.

[chicane]

I think I prefer my cave in Swansea... the air is cleaner so long as the prevailing wind blows the filth from Port Talbot to the east...

I'd imagine the air in Port Talbot is somewhat less 'sulphuric' now that they've leveled the steel works. Although perhaps aliens prefer that tasty thick air.

[oracleslave]

Sorry for being born

Apology accepted.