Mortgage firms rush to repossess homes as families feel credit crunch

[sidknows]

does anyone know which mortgage co is offering the best deal for contractors at the moment?

[Bluebird]

does anyone know which mortgage co is offering the best deal for contractors at the moment?

what d'you need a mortgage for - use cash

[Sockpuppet]

does anyone know which mortgage co is offering the best deal for contractors at the moment?

Woolich

[wendigo100]

I'm not saying that, I am saying if you offer cheap money to idiots they will spend it foolishly, the repercussions will effect everyone. Why should we suffer?

The banks should have more sensible lending policies, they have fuelled the boom by lending ridiculous multiples.

That is exactly what I mean by "protecting people from themselves". Stop offering it and the idiots can't spend it.

[wendigo100]

Woolich

Woolworths

[Diver]

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

I would hate to be little people

[AtW]

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%

You must be joking? Those guys charge 9% because of hish risk profile - you can be sure that those guys (bad as they are) won't be able to get money on market under interest rate paid by proper big banks: interest is always higher when risk is higher. Right now property (especially sub prime) is a high risk.

In this game someone will inevitably have to go bust - it will be those who overextended themselves (people and companies) and there is nothing can be done about it - it is better if this crash comes quick and goes quick, any attempt to prolong the pain will only make things worse - it is a gangrene that should be cut out.

[bobhope]

HANG ON

So loads of mugs have been purchasing effectively worthless land. The banks handed over the money, and now can't get it back.

Who has the money?

It's in my swiss bank account


Threaded(tm)

[Diver]

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.

Exactly! I have some property to let in Newport, S Wales. If anyone is interested. 1 coming up at the end of Feb, 3 bed, off road parking. only £550 per month. Dispossessed welcome (Bond Required, Short term tenancy agreement only)
Also looking for buy to let properties in this area. Cash Paid. will rent back to seller.

[Diver]

Ah.

You're a Blade Runner then...

Slide down one and use my balls as brakes. I'm ard I am