why can't NR give Ocean Finance a call and arrange a consolidation loan?
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Sadly Ocean Finance only offer secured loans. Given the crock of tulip NR's mortgage book mostly consists of they're not really in a position to offer the necessary securityOriginally posted by PinkPoshRat View Post
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Apparently those 125% LTV borrowers are defaulting faster than bollocks comes from cybertory's keyboard. So obviously it was only the Government's fault.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
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That's an impressively dumb idea, like all businesses the good should be used to repair the bad. I'd rather see it trade into the black, pay off the bail out cash, then get sold off or retained as a stable National asset like the old TSB was or NS&I.Originally posted by Bright Spark View PostThe govt is planning to split northern crock into two, one half will be good and
returned back to the private sector by next year, the bad half will be written off by tax payers over several years, seems like a bad attempt to window dress before the election, not the NL have any chance of winning.
For that matter Northern Crock could be quite complementary to NS&I when it's properly dug out of the cacky as a stable mortgage and finance provider.Comment
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HMG encouraged all of the best customers to leave the Rock to reduce the mortgage book. They are now left with the dross and seem surprised that the dross are defaulting. They also seem amazed that the percentage is higher than at other banks. They truly are thick and need to be ejected ASAP.
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Offering 125% LTV mortgages during a housing bubble, erm now how could that be a bad idea?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
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Aye - and changing the rules so that mutuals could play at being banks was a great idea - they've all been such a success!Originally posted by Bagpuss View PostComment
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No kidding, who was it that was in power when that particularly stupid idea was launched I wonder?Originally posted by Peoplesoft bloke View PostComment
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Originally posted by Bagpuss View Post
Some banks are still offering it, but remember this is/was all with sanction of the Labour government which should have put in reasonable credit controls at least three years ago. Instead, to keep a feelgood factor and thus taxes rolling in, they cynically allowed the state of affairs to get out of control.
Useless, useless and even more useless ...... OUT !!!!
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So you want regulation, I thought being conservative was free markets and cutting red tape?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
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