Are large multiple mortgages a good thing?
907 published comments with 43 censored.
The following comments were censored from this thread on the BBC's 'Have Your Say' section of their news website.
Are large multiple mortgages a good thing?
Advocating financial suicide. How very nice of the Abbey. Must remember not to go anywhere near these people for anything.
Are large multiple mortgages a good thing?
"Is there a minister for housing? if so what the hell do they actually do?" Gibson Mel
It's John Prescott!! Currently he is getting heavy criticism for building affordable housing on green land.
Are large multiple mortgages a good thing?
Peter Sym is a genius.
jackie scott, london, United Kingdom
Peter, is that you?
Are large multiple mortgages a good thing?
I wish there was something that could be done about the buy-to-let b4st4rds, but there isn't.
I will not rent forever as i am not going to fund these people,
Claire Townsend
The thing is Claire, you may not like these “buy-to-let b4st4rds,” but given that you cannot currently afford a house, if it wasn’t for your current landlord, you would be living at your parents house.
Are large multiple mortgages a good thing?
Anyone who buys a house must be stark staring mad.
Our housing association has sheltered housing available for when we can no longer cope with the house, they have modified our houses unpteen times in the last 15 years, and on top of that we pay less than £350 pcm for a 3 bedroomed house, front & back gardens and garage.
Elaine Grant, Letchworth Garden City,
I applied to Housing Associations in your area and was rejected as I earned too much so I had no choice but buy a flat. I am glad I did. My friends have major problems with landlords and have moved 3 times in two years. I am glad I am on the property ladder as prices will stay high due to planning policy and shortage of land. :)
Are large multiple mortgages a good thing?
LETS ALL START ONE BIG CAMPAIGN OUTSIDE WESTMINISTER....GET THESE MPS TO SORT THIS HOUSING MESS OUT....ITS BEEN GOING ON FOR A LONG TIME..WHO'S IN FAVOUR......???
Are large multiple mortgages a good thing?
Housing market collapse Economic downturn = Job losses = further downturn = more job losses
One of those jobs could be yours
I appreciate your feelings, but everyone will get caught in the crash, even if they don’t own
[tre-cool]
How can a housing market crash cause an economic downturn, it's got nothing to do with the economy. If it did, wouldn't it be taken into account when inflation is calculated?
Are large multiple mortgages a good thing?
Sell and pay off the Capital £200,000 then pay 40% of the profit to Gordon's Successors £110,000
This leaves you a net profit of £165,000
Terry Killeavy,
You don't pay CGT on money made from your main home
Are large multiple mortgages a good thing?
Well done Ex Prime Minister Thatcher, your scheme, to break the working man and the unions by dangling the carrot of home ownership in front of them and getting them in debt so they are too scared to fight for their jobs and decent wages in case they lose their homes, worked brilliantly.
Brian Jenkins, Benfleet, United Kingdom
And if Thatcher was a Labour leader, you would be praising her for allowing the "working man" to own his own home and not have to live in houses owned by the big "land owners".
The current house prices have little to do with the Tories, they have been out of power for almost a decade. It is Labour who is ruining (sorry running) the economy now.
Are large multiple mortgages a good thing?
"Buy-to-let's and 2nd homes should be heavily taxed. "
2nd homes, yes, but I'm sure you can put certain potential landlords off by imposing certain rules, such as forcing them to maintain their houses properly, forcing them to insulate, to install proper heating, and to, well, make their houses pleasant places to live. A lot of housing pimps buy hovels, don't do anything about them, and then let them at unreasonable rents to people who have nowhere else to go.
Are large multiple mortgages a good thing?
"anything that keeps house prices high is good for me - I've owned a house for over thirty years and am revelling in the profits.
Elizabeth Straker "
IDIOT
Are large multiple mortgages a good thing?
Alan Addison says he's not a communist as though communism were some sort of socially divisive, unfair, greed-inspired, war-mongering, uncontrollable economic system.
Are large multiple mortgages a good thing?
"anything that keeps house prices high is good for me - I've owned a house for over thirty years and am revelling in the profits.
Elizabeth Straker "
What planet are you on??..............shut it and get back in your hole!
Are large multiple mortgages a good thing?
Elizabeth Strakers comment - “anything that keeps house prices high is good for me” has attracted a lot of hostility here. Some posters have even gone as far as blaming her “attitude” for causing the surge in house prices.
House prices like all prices are set by market forces. It isn’t Elizabeth’s fault that you cannot afford the home you feel you are entitled to. I wonder how many of Elizabeth’s critics will be every bit as pleased as she is when they finally get on the property ladder and see their home rising in value. And despite comments to the contrary there are plenty of schemes that convert housing equity into cash – they are advertised all the time on day time TV.
Are large multiple mortgages a good thing?
The biggest problem for the NHS is sick people. Two local hospitals have merged with a new name. Money was found to replace hundreds of signs within days of the merger. The same hospitals are now short of money and closing wards and making nurses redundant. Of course it will be from different budgets but it is all the NHS and funded by us, the taxpayers. If it was not for sick people there would plenty of money for more reorganisations.
Are large multiple mortgages a good thing?
To Clive Gordon
I was not talking about a main residence. It is easy to avoid this, even with a portion of the property left vacant for your own use. So pay Gordon what he is owed.
To The Misanthrope
The Naivety is all yours. Every decade including the last has seen house price inflation in excess of my percentages used. Where have you been?
To Scotbot
Houses are homes and commodities and always have been. Pensions failed as a commodity and have now been replaced by housing manipulation. Where have you been? Mars
To all of you who do not like the facts. If property was not to be used for the future, not many people would have a future !!
Are large multiple mortgages a good thing?
There are so many of you out there, moaning, whinging and complaining, and now decrying people bonuses in their jobs.
We live in an economy where we try and make a profit legally, if this means through property or work or something else, then so be it.
Why is it that when people have done well, some of you want to take it or stop it without lifting a finger.
Get off your back-sides, buy something, imagine something, take a risk, go to London:
But stop Whinging about other peoples imagination.
And this includes You Scotbot and you The Misanthrope, and a whole lot more !!!
Are large multiple mortgages a good thing?
"Well I just paid £350k for a one bed a box room with no outside space in central London. You don't know you're born.
City Slicker, London"
You were swindled, my friend. :-)
Are large multiple mortgages a good thing?
To Abbey:
No thanks, you can shove your stupid proposal up your ****
Are large multiple mortgages a good thing?
"People have been waiting for a house crash for 3 years, saying uneducated comments like 'what goes up must come down'. Err no. It's a simple equation of supply and demand, the demand for houses is high and will remain high, therefore house prices will stay high.
[golacoops], Birmingham, United Kingdom "
A simple equation of supply and demand? It is naive and uneducated comments like these that confirm my view that the majority of people do not understand economics or the housing market. By your "equation" rents should have also tripled in 5 years, but they have not. I suggest you actually find out what you are talking about before repeating what the media tell you.
Are large multiple mortgages a good thing?
"it would if it weren't for the law of suply and demand, which will sustain house prices for years to come."
For something as essential as housing the supply should only be for those who need a house. The demand has been twisted from demand for what it's for to a demand for investment and profiteering, to the detriment of living.
5 times lending sounds a bit like a desperate measure to keep supporting a house of cards by papering over the cracks (apologies for the rather dubious mixed metaphors!)
Are large multiple mortgages a good thing?
A good bout of flu to kill off all the over 80's and release thier property on the market, is about the best solution. Less to pay for care homes, less to pay on pensions less burden on the NHS and more property on the market. winner all round really
Are large multiple mortgages a good thing?
Ban and/or tax out of profit the buy-to-let parasites. Problem solved.
Are large multiple mortgages a good thing?
"Did it occur to you that there could be 20-somethings out there who earn less than that????"
I seem to recall a time when 20-somethings did not get married and breed until they were financially independent and rented a place if they could not buy. Until then, they waited and saved. And a lender would not give you an advance until you had saved with them for a couple of years.
Now, of course, it's a case of I want it all and I want it now.
Are large multiple mortgages a good thing?
They need the new homes being built to be offered to 1st time buyers first and then the the buy to let brigade and housing associations. Too many new houses are being earmarked or were built for the sole purpose of housing the dole sponging, child popping work dodgers that need thier own home.
Are large multiple mortgages a good thing?
"Lots of people in this HYS have mentioned protesting.
There is already an organisation that was formed to speak up against over inflated house prices - It is called 'Priced Out' and can be found at ********"
Try: www DOT pricedout DOT org DOT uk
Are large multiple mortgages a good thing?
There is no risk in this calculated move by the Abbey ( 25% Deposit ).
However there is little doubt, what the consequences of such measures will be, for the future of house prices, as other lenders are sure to follow suit.
There is a website called housepricecrash.co.uk which sheds further light on the house price issue.
Are large multiple mortgages a good thing?
Added: Wednesday, 1 November, 2006, 17:00 GMT 17:00 UK
"Better to wait for a housing market crash. - M Hoag"
Here here!
My partner and I are first time buyers and we are not buying at these outrageous prices, no matter what gimmicks are employed by the lenders." Lucy Unity
I hate people like you. You want families out on the street because you can't get on the housing ladder? Well, tough!! Get saving and look into living somewhere a bit rougher. There are lots of affordable houses out there, if you compromise on area. If there is a crash, it will have a knock on effect and ripple through the whole economy, probably leaving you jobless. Ever think of that? SELFISH!!!
Are large multiple mortgages a good thing?
Estate Agents dont hike prices, the economy does and location diserability. There are many many many other reasons why house prices are soaring and will continue too for some time yet. Dont get me wrong though, i hate the estate agents! They are smug individuals riding on the crest of a money wave. Still, we're all here to make money so live and let live. Also, with prices rising as they are - including rents - immigrants wont be able to afford to continue to live here and will climb back under the rocks they've all crawled from.
Are large multiple mortgages a good thing?
I hate people like you. You want families out on the street because you can't get on the housing ladder? Well, tough!! Get saving and look into living somewhere a bit rougher. There are lots of affordable houses out there, if you compromise on area. If there is a crash, it will have a knock on effect and ripple through the whole economy, probably leaving you jobless. Ever think of that? SELFISH!!!
Cheshire Cat, Northwich, United Kingdom
So we should get ourselves into crippling debt just to keep you happy and wealthy? I hope the market collapses and you end up homeless. Go boil your head!
Are large multiple mortgages a good thing?
Why is it, that when I try to tape record a programm now, that, despite setting into my video recorder the video plus no.s, I get a hash of trailers for later programms, which causes me to miss either the begining or end of the programm that I wanted to record? at one time, BBC prog's started and finished at the advertised time, but, now, it gets very frustrating.Please help.
Are large multiple mortgages a good thing?
Did that one hit close to home?! Shame! may be you should do some basic maths to figure out exactly what you can afford before you sign on the dotted line.
As my husband is from Northwich and an has family who run an estate agents there, may I suggest you downsize in the VERY near future if you are struggling now.
PAY2003
So you think that the answer to someone struggling to manage after paying their mortgage(half of us homeowners) is to pay an estate agent £4000 to sell our house, then pay £2000 stamp duty on another one, and about £3000 in other associated fees and moving costs. As I said before, you are a moron! My maths skills are fine, as agreed by MENSA. Drop dead.
Are large multiple mortgages a good thing?
Did that one hit close to home?! Shame! may be you should do some basic maths to figure out exactly what you can afford before you sign on the dotted line.
As my husband is from Northwich and an has family who run an estate agents there, may I suggest you downsize in the VERY near future if you are struggling now.
PAY2003
So you think that the answer to someone struggling to manage after paying their mortgage(half of us homeowners) is to pay an estate agent £4000 to sell our house, then pay £2000 stamp duty on another one, and about £3000 in other associated fees and moving costs. As I said before, you are a moron! My maths skills are fine, as agreed by MENSA. Drop dead.
Are large multiple mortgages a good thing?
DAN WINTER
You are intellectually challenged.
Please pass away with a thud.
Are large multiple mortgages a good thing?
Mortgages are so : for little people.
What's wrong with you guys , for goodness sake you can buy a small house around here for only $5 Million !!
Why , even my Mexican cleaner has her own trailer !
You are so not funny ! Who is this Abbey ? Is he a Jewish money lender ?
Mwaaaaaa ! Love ya all my fans xxxxx
Are large multiple mortgages a good thing?
If people can't afford to buy their own home it's their own lookout for having a rubbish job - they should have worked harder at school and got educated.
[king_of_reason], Weston, United Kingdom
Well, congratulations for posting the most RIDICULOUS comment EVER, on a HYS. And no, you don't win a prize.
Perhaps houses in Weston still cost £3,000 but in the South people of all backgrounds are finding it difficult. I was fortunate to have mine bought by my parents - many aren't so and you'd do well to recognise that instead of blowing hot air.
[politico-junkie-SE1]
Houses in Weston for 3 grand?
Your parents bought you a house?
Check u out - you patronising, privileged TW_AT
Are large multiple mortgages a good thing?
Cheshire Cat - I have had the misfortune to read your thoroughly aggressive posts here. If you honestly think that "moron" and "drop dead" are civilised contributions to an adult discussion, then it's quite clear that you are not fit to post here.
Are large multiple mortgages a good thing?
Oh and PS , if you want to know why the MP's are happy to have prices so high and not do anything about it , checkout how many of them own multiple properties.
********/ cmregmem/060919/memi02.htm
DbD
Are large multiple mortgages a good thing?
Jackie Scott - Another person who cannot debate in an adult manner.
Are large multiple mortgages a good thing?
I work for one of the biggest lenders in the UK, a company which prides itself on responsible lending. Advertising 5x income lending is far from meeting 'responsible' criteria. As for the comments regarding independent advisors offering lending of over 6x income, these people also regularly lie to lenders about applicants income to avoid proper underwriting. I would never risk using an IFA - I'm sure there are some reputable ones, but there are far too many who aren't. They may help the applicant to get a mortgage, but where are they when the property is reposessed?
Are large multiple mortgages a good thing?
If people can't afford to buy their own home it's their own lookout for having a rubbish job - they should have worked harder at school and got educated.
Are large multiple mortgages a good thing?
WELL DUH! IF EWE FOLKS BORROW MORE MONEY... THEN EWE WILL INCREASE DEBT!
WOULDN'T IT BE WONDERFUL IF THE GOVERNMENT TOOK CONTROL OF THE COMMON WEALTH FOR THE COMMON GOOD? WE ARE NOT SUGGESTING COMMUNISM OR SOCIALISM, HOWEVER WE ARE SUGGESTING COMMON $ENSE FOR THE $AKE OF FAIRNESS. THE GAP BETWEEN THE HAVES AND THE HAVE $NOTS IS GETTING TOO WIDE. WHEN IS ENOUGH ENOUGH? DO EWE FOLKS WANT TO END UP LIKE AMERIKA, A FISCALLY AND MORALLY BANKRUPT COUNTRY WITH A BROKEN HEALTH CARE $YSTEM AND AN ECONOMY THAT $ERVES THE INTERESTS OF CORP-RAT CULTURE IN LIEU OF THE GENERAL WELFARE.
FREE MARKETS, ESPECIALLY FOR NECESSITIES LIKE FOOD, $HELTER & ENERGY MUST BE CAREFULLY REGULATED TO PREVENT CHAOS.
Abbey says it will offer borrowers five times their salary in order to help them get onto the property ladder.
The deal will be available for individuals or couples who can provide a 25% deposit for their house as well as an annual income of £50,000 or more.
The bank says that it is reacting to surging house prices but there are concerns that borrowing on this scale together with possible interest rate rises could leave would-be borrowers severely stretched.
What do you think of the Abbey’s proposals? Is a large multiple mortgage offer a good thing? Are you finding it increasingly difficult to buy your own property? Send us your comments and experiences.
We are looking to interview the following house-buyers:
Shared ownership or key worker purchaser; individuals with high multiple mortgage; people buying with friends or receiving help from family. If you would be happy to be interviewed by a BBC journalist please reply enclosing a contact phone number (this will not be published).
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