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Real stories of people losing their homes

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    #1

    Real stories of people losing their homes

    http://news.bbc.co.uk/1/hi/business/7680498.stm

    Charles Okwalinga moved into a council house in Lewisham with his wife and kids which he ended up buying, enticed by the government's right-to-buy scheme.

    But he secured a bad mortgage deal and has struggled to meet the payments.

    Threatened with eviction for more than a year now, he is desperate for government help to sell his house.

    "In 2000 I was looking for a bigger house for my wife and two daughters and we found a three-bedroom council house in Lewisham.

    Four years later, we bought the house through the government's right-to-buy scheme.

    The government discount was very attractive. We paid £15,000 and the government put in £16,000. That left us with a mortgage of about £167,000.

    We had to pay interest at 9.8%, which I was advised was the best I could get at the time because of credit problems, as neither my wife nor I were working. "


    So lets get this straight. You took a council house, invoked your right to buy and effectively took £16K of tax payers money to help you buy. You secured a mortgage which you consider bad as no one was working (how the fook you can get a mortgage with just I guess social money is staggering).

    Now you demand the government help you out of this mess?

    Welcome to Britain gone mad.
    Tags: None
    #2
    Jesus wept!! You need Government help to sell a house in Lewisham when there is a boom going on!!
    Where did he get his mortgage from...........Peter Mandelson??
    “The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”

    Comment

      #3
      There is no sub prime problem in Britain. The repos are not happening. Interest rates must be lowered to drive the boom.

      Comical Cybertory

      PS The Northern Rock had nothing to do with this
      The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

      But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

      Comment

        #4
        Originally posted by DimPrawn View Post
        http://news.bbc.co.uk/1/hi/business/7680498.stm

        Charles Okwalinga moved into a council house in Lewisham with his wife and kids which he ended up buying, enticed by the government's right-to-buy scheme.

        But he secured a bad mortgage deal and has struggled to meet the payments.

        Threatened with eviction for more than a year now, he is desperate for government help to sell his house.

        "In 2000 I was looking for a bigger house for my wife and two daughters and we found a three-bedroom council house in Lewisham.

        Four years later, we bought the house through the government's right-to-buy scheme.

        The government discount was very attractive. We paid £15,000 and the government put in £16,000. That left us with a mortgage of about £167,000.

        We had to pay interest at 9.8%, which I was advised was the best I could get at the time because of credit problems, as neither my wife nor I were working. "


        So lets get this straight. You took a council house, invoked your right to buy and effectively took £16K of tax payers money to help you buy. You secured a mortgage which you consider bad as no one was working (how the fook you can get a mortgage with just I guess social money is staggering).

        Now you demand the government help you out of this mess?

        Welcome to Britain gone mad.
        I thought true sub-prime was a US thing?

        Comment

          #5
          167k at 10% FFS

          must be £1500 a month?
          The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

          But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

          Comment

            #6
            Originally posted by Bagpuss View Post
            There is no sub prime problem in Britain. The repos are not happening. Interest rates must be lowered to drive the boom.

            Comical Cybertory

            PS The Northern Rock had nothing to do with this
            WHS.

            Read those tear jerking stories. Like the guy that snapped up a batch of Birmingham Canal Side bedsits on a BOGOF offer and then blames the fact it was too easy.


            Maybe they can all sue for compensation for emotional distress using Legal Aid and get the tax payer to pay out?

            Comment

              #7
              Originally posted by DimPrawn View Post
              WHS.

              Read those tear jerking stories. Like the guy that snapped up a batch of Birmingham Canal Side bedsits on a BOGOF offer and then blames the fact it was too easy.


              Maybe they can all sue for compensation for emotional distress using Legal Aid and get the tax payer to pay out?
              I saw a prog that featured those canal side properties - they looked OK, but were by the side of a canal in Birmingham. Couldn't see the attraction.

              Comment

                #8
                Originally posted by Bob Dalek View Post
                I saw a prog that featured those canal side properties - they looked OK, but were in Birmingham. Couldn't see the attraction.
                WHS
                “The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”

                Comment

                  #9
                  Pretty much the same attraction as any canal side development in any city in England.

                  The whole market is xxxxxd e.g. 1 bed flat in Fulham, auction guide 120k (were selling for 275k 18 months ago.)
                  The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

                  But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

                  Comment

                    #10
                    Originally posted by Bob Dalek View Post
                    I saw a prog that featured those canal side properties - they looked OK, but were by the side of a canal in Birmingham. Couldn't see the attraction.
                    Birmingham has as many miles of canals as Venice. "almost like Venice", doesn't it look more attractive in that light?

                    Comment

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