Overstretched home "owners"

[The Spanish]

In my humble opinion, the problem goes right up the chain.

The stupid greedy people who over-borrowed are to blame for borrowing money they wouldn't be able to pay back.

The financial advisors are to blame for giving bad advice, whilst lining their own pockets.

The banks are to blame for not having tighter lending conditions in place. If Mr and Mrs Stupid wanted to borrow a pile of money they couldn't repay, the banks should have said no.

The regulators of the banks (FSA) are to blame for not regulating the banks. They should have recognised the iresponsible lending, but they didn't.

The Govt (esp Gordon Brown as chancellor) is to blame most of all for not recognising the truly massive credit bubble that was forming, and doing nothing about it, preferring instead to ride the wave of short-term popularity created by people feeling artificially well off.

Kirsty Allsop is to blame for making TV shows that gave the idea that houseprices can only ever go up, and you were stupid if you didn't stretch yourself to the limit. She is forgiven though because she has nice tits.

Nothing wrong with stretching yourself to the limit necessarily, if you really know where the limit is. And stretching with hard cash and as little borrowed as possible.

I would stretch that Kirsty Allsop to the limit.

 

[User removed 4]

I take it you would use that argument against car manufacturers who built cars that bank robbers used as getaway cars?

I am being sarcastic mate, i work in the city , as THPP did previously, for various futures exchanges and banks , he was quite happy to take the money then, to provide IT services which helped these bankers commit their "monstrous crimes", and now he wants to point the finger like he's a modern day reincarnation of mother theresa.

 

[Dave the OAP]

I am being sarcastic mate, i work in the city , as THPP did previously, for various futures exchanges and banks , he was quite happy to take the money then, to provide IT services which helped these bankers commit their "monstrous crimes", and now he wants to point the finger like he's a modern day reincarnation of mother theresa.

as was I

Business Continuity is almost 90% financial sector these days., so I suppose we are also the devil incarnate

 

[beorhthelm]

In my humble opinion, the problem goes right up the chain.

The stupid greedy people who over-borrowed are to blame ...
[all those inbetween are to blame...]
The Govt (esp Gordon Brown as chancellor) is to blame ...

that is it in a nut shell, and goes full circle really as the people where happy to vote the government in as everything in the garden was rosey.

 

[NMH]

There must be scads of people who stretched their finances, took risks, and got it wrong with their hopeful predictions.
Gambling is not something I can sympathize about really.

 

[Box of Frogs]

In my humble opinion, the problem goes right up the chain.

The stupid greedy people who over-borrowed are to blame for borrowing money they wouldn't be able to pay back.

The financial advisors are to blame for giving bad advice, whilst lining their own pockets.

The banks are to blame for not having tighter lending conditions in place. If Mr and Mrs Stupid wanted to borrow a pile of money they couldn't repay, the banks should have said no.

The regulators of the banks (FSA) are to blame for not regulating the banks. They should have recognised the iresponsible lending, but they didn't.

The Govt (esp Gordon Brown as chancellor) is to blame most of all for not recognising the truly massive credit bubble that was forming, and doing nothing about it, preferring instead to ride the wave of short-term popularity created by people feeling artificially well off.

Kirsty Allsop is to blame for making TV shows that gave the idea that houseprices can only ever go up, and you were stupid if you didn't stretch yourself to the limit. She is forgiven though because she has nice tits.

I disagree - Sarah Beeney has got better knockers than Kirsty Allsop!!!

 

[The Uninvited Guest]

One's life style should be based on what one can afford.. I think the blame lies with financial advisers and purchasers. The F/A wants to sell you a bigger mortgage for more commission and the purchaser is tempted by a bigger more expensive property. Ever hear of mortgage protection ? Don't lie about your salary

 

[Pretty pink fairy]

its easy really, look no further than the people that lent them the money in the first place , maybe our own mortgage seller US can shed some light on the issue

 

[Deleted User X18H]

Although you do have an inability to meet your credit card responsibilities

One blip son one blip. MBNA never defaulted me and I can still as of Friday just gone get credit!!!

 

[Tom Hark Preston Park]

I am being sarcastic mate, i work in the city , as THPP did previously, for various futures exchanges and banks , he was quite happy to take the money then, to provide IT services which helped these bankers commit their "monstrous crimes", and now he wants to point the finger like he's a modern day reincarnation of mother theresa.

Seem to have hit a bit of a nerve with the jumped-up barrowboys here.

Hoorah!

 

[Ding Dong !]

No sympathy for those who decide to top up their mortgages to pay for holidays, cars tc etc A mortgage is for a home not a lifestyle !!!

 

[Beach Hut]

No sympathy for those who decide to top up their mortgages to pay for holidays, cars tc etc A mortgage is for a home not a lifestyle !!!

What is even worse was home improvement loans were once tax free therefore a cheaper option car loan.

 

[Uncle Spielberg]

its easy really, look no further than the people that lent them the money in the first place , maybe our own mortgage seller US can shed some light on the issue

A mortgage broker does not actually lend people the money. Until you can grasp this very basic concept there is really no point with carrying on the discussion. Have a good evening.

 

[Uncle Spielberg]

One's life style should be based on what one can afford.. I think the blame lies with financial advisers and purchasers. The F/A wants to sell you a bigger mortgage for more commission and the purchaser is tempted by a bigger more expensive property. Ever hear of mortgage protection ? Don't lie about your salary

Wrong. The FA / Broker will arrange a mortgage for the required amount. I have never in 20 years said to someone you want £ 100k why not get £ 140k go on you know it makes sense. What a load of old shit. Still say it enough times and I guess people will believe it.

This is hard concept to understand but some people in Finance actually, now listen carefully, do the best by their client and is not out to stitch them up.

 

[seagullsovergrimsby]

I disagree - Sarah Beeney has got better knockers than Kirsty Allsop!!!

Agreed , a lot of viewers would like to give them a polishing.

 

[Pretty pink fairy]

A mortgage broker does not actually lend people the money. Until you can grasp this very basic concept there is really no point with carrying on the discussion. Have a good evening.

bollocks , you're more than happy to make that arrangement

 

[beorhthelm]

Wrong. The FA / Broker will arrange a mortgage for the required amount. ...

This is hard concept to understand but some people in Finance actually, now listen carefully, do the best by their client and is not out to stitch them up.

except those that are out for their own commisions only. my friend had exactly the situation you suggest, went for 100k which he knew he was stretching for and come back with a "self-certified" 120k loan. say it doesnt happen enough times and people will beleive you

personally i have no problem with financial advisers, i researched everything myself, so didnt see the point of paying.

 

[Uncle Spielberg]

bollocks , you're more than happy to make that arrangement

Either you are

A. Very Stupid
B. Very Stupid

Or

c. Very Stupid

So I repeatt until you can find your Brain cell again I really think there is no point in carrying on this conversation.

Kind Regards.

 

[Uncle Spielberg]

except those that are out for their own commisions only. my friend had exactly the situation you suggest, went for 100k which he knew he was stretching for and come back with a "self-certified" 120k loan. say it doesnt happen enough times and people will beleive you

That does not make sense. He went for £ 100k and got £ 120k. The lender will offer you what you have asked for if you meet its criteria. Even if you are commission only which I have been for 9 years does not mean you give bad advice no matter how many times you say it.

 

[Herr Tubthumper]

At the end of the day, all things considered, I'm more than happy to blame the workers in the square mile (please note the use of lower case letters.)