Mortgage firms rush to repossess homes as families feel credit crunch

[Diver]

You are Carol Vorderman and I claim my £5.

Good innit.

Haven't got a clue about mortgages, but it stirs the pot a little and keeps the thread from unraveling

[Ruprect]

Good innit.

Haven't got a clue about mortgages, but it stirs the pot a little and keeps the thread from unraveling

I'm just glad you're not in number 11!

[Diver]

I'm just glad you're not in number 11!

I defer all questions financial to my good friend Mr Brown

[Sockpuppet]

Sorry, did not make myself very clear.

Make sub prime lenders reduce for those in genuine difficulty, interest only mortgage change to lower interest for a fixed term.

Would just prolong the issue imo.

They are going to have to pay the mortgage off sooner or later. Interest only mortgages rely on large amounts of capital growth in order to work.

If they can't afford a house now how are they going to afford it in the future.

[tay]

Sorry, did not make myself very clear.

Make sub prime lenders reduce for those in genuine difficulty, interest only mortgage change to lower interest for a fixed term.

They would all be in 'genuine' difficulty pretty soon. Meaning they would be cut loose... and unable to find replacement lenders... credit crunching hard.

[rootsnall]

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.

You might find you are exactly the right age ! I was in my early twenties in the previous boom and concentrating on having a good time when more 'sensible' mates were buying houses. They ended up in negative equity for years. The ones who didn't buy were in a lot better position five years later when things started to pick up. The current must buy attitude will soon go when things go into reverse, it'll change to you must be a mug to buy a house. Save up and buy one in 5 years time.

[NoddY]

Relations between the rich and poor under capitalism are defined by debt. Ergo only the little people have mortgages.

[Zippy]

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?

Now you are being silly. Families won't end up 'in the streets', they just won't be under the illusion that they own their own home.

[Bluebird]

Surely this is good ?

Now we cann pick up BTL much cheaper ??

[The Lone Gunman]

Surely this is good ?

Now we cann pick up BTL much cheaper ??

Yes we should be able to buy some poor sods house at 75% value after it has been reposesed then rent it back to them.