matts1

Just watching something on this now

You have people on benefits, no jobs, no ability to work, yet jump at the chance to buy their council house, greedy fekers jumping at the chance of getting us to pay for thier house.

Admiting they had to lie about this that and the other to get it and now they are in a mess, they are crying and saying it is unfair

Now there are two sides to it, yes they are in the wrong to sell to people that have no chance of paying it off, but, it is the dumb fooks that get greedy only seeing how they can get more than they deserve and not thinking about the long term.

I am sure i will be slated but these people piss me off, now that they are all getting their houses taken off them, they will drive house prices down, and those that have worked hard to buy a place will find themselves in negative equity

If you don't work, and sign up to 100-150k worth of dept, then what do you think is going to happen??

MAD EVO 4

we are watching this and its amazing

dojj

iTrader: (3)

the whole problem, in my onion, is that there are too many people who live like they deserve soemthing in life wihtout the need to work for it

you shouldn't have a council "house" you should have a council "flat"

and if you have too many sprogs you still live in the same council "flat" and you don't get any extra for having more and more after your 3rd kid

and you don't get a council place just because you are up the duff, you should have thought about that before you opened your legs

and this "right to buy" bollocks, why? i don't have a right to buy suibsidy to buy my house, yet i've worked for the past 19 years to save up enough to pay for the things i want, why should a scummy toerag get "gifted" a house because someone thought "oh look, the poor love, they'll be scorned for being underaged and pregnant, they won't be able to get a job because no one wil look after the baby" tough shit, have a baby underage and, once the baby is born, look after it and get compulsoryly sterilised
and that includes the father as well

it's like driving, people think it's their right to be ale to drive, not a privilege after putting in some hard graft

there should be plenty of and and in this post, but i can't be arsed

ECOS95

Agree with all the above. Some people are stupid when it comes to money & think if someone wants to lend it to them they'll take it. The FSA needs to crack down on the lenders.

matts1

I know of a few birds that have 2-3 kids and openly admit that they want another one so they can get a larger house

Never worked a day in their lives, claim their fella's don't live with them as then they get more cash, sit their with a nice house, big tv's, sky,free dental work etc etc

My sister got pregnant, had the kid, 6 months later she was back to work she is now preggers again and said that she would actually be better of on benefits, by alot!!!, she isn't going to though, she is going to run a home daycare and look after her two plus another 4, all legit and above board.

I think the government should give benefits for the first kid, half that for the second and NONE for the third.

They should reward those who go back to work, free childcare, or extremely dicounted, after all, these are the people who have put into the pot, and are continuing to do so.

neilm

Whoah Whoah Whoah Whoah whoah..... just hold on there....

The two familys that were shown in that program were NOT greedy fekers jumping at a chance of getting us to pay for their house(I cant believe I just read that )

These people were clearly conned by unscrupulous sales people who exploited their low intelligence and lack of financial understanding.

If you are sitting watching the TV and someone knocks at your door and tells you that you could own the house for the same money you are paying in rent then why shouldnt they take what they see as an opportunity to get on in life.

They werent out there touting for a mortgage or on the street ramping up huge debts on credit cards living beyond their means buying huge plasma TV's and the latest mobile phones, driving cars they could never pay for.

They were just ordinary working class people trying to get by and some con man knocked on their door.

Where the system failed them was that the Council should never have sold them the house in the first place without making sure they could pay for it.


I must say your complete mis-understanding of this situation just confirms that we are just a nation of fuckwitts.




The outrageous thing and the most shocking was the people doing all this dodgy lending were linked DIRECTLY to main stream lenders like Brittania Building Society and Lloyds TSB Bank.

Now that is a crime

lukemakepeace

greed is the no1 killer!!!!!!! tuff shit to them.

Punkie

Sub Prime lending is the reason I will be able to afford a house sooner than Id hoped.

So in this respect, being selfish, it is good.

It is also good for the company I work for, as its all dealing with Sharedealing, ISAs ... investments in general...When the subprime market in the US collapsed, and as a knock on the banks here decided to up LIBOR and hoard all their money (leading to the loan from the BoE to Northern Rock) we had over 500 a day registering on our site, most of which I would imagine were only here to get in when Northern Rock fell to eff all.

Paddy

These people may well have been conned and that's unfortunate but they are definitely in the minority of people with sub prime loans.

I don't know much about the sub prime mortgages but I do know how many people I serve that can only get sub prime loans for cars.

It always amazes me when people that clearly have financial problems, who spend far more than they earn and surround themselves with loans for total shit [tvs, playstations etc] think they "deserve" a few grands worth of car?

Maybe it's grown from the media culture of seeing everything thats available to us as consumers? I don't know, but there are a lot of people in this situation, paying off ludicrous loans and trying to get into more debt.

THIS is the bigger issue in my opinion, the stupidity and greed of people.

But hey, as long as they are prepared to come into me and pay 15% flatrate for a Ł4k car, I shall be using the commission payments to fund my chainmail fetish.

Please PM phone numbers.

matts1

Fuckwit??

These people are made out to be the victims for the benefit of the programme.

The truth is they take take take and although I DO thinki the firms that do this are wrong, it is the greedy fekers that honestly believe from years of take take taking, that they have the right to something they clearly don't.

Right to buy, with what? my money?

neilm

You really have no understanding of this at all do you.

When the camera went round both the families shown's houses did you see them living a lavish lifestyle on credit ?

NO you did not. These were not greedy people thinking England owes them a living, one fella was working all the hours god sent to try and keep a roof over his families head.

Now had he a mortgage like most people and was paying 5-6% interest he probably could have managed but because these bastards are cranking the interest rate up to whatever they think their loan had interest of over 10% on it... so once again the rich get richer and poor get poorer.

And why do you think they have a right to buy with your money ???


The family who werent on the scooters who were forced to sell their house and move into rented accomodation would still have to re-pay the short fall after the sale of their house. Which was Ł10,000

YOU have to pay fook all......


These people werent made out to be 'poor victims' they were genuine victims of some very dodgy dealings.



If you give your local college a ring there may be a night class running you could attend.

'Documentaries - a basic understanding'

Theres also a book you coud buy from all good book shops - 'Panorama for Dummies'

neilm

Well you need to be very careful because what Panorama showed was that the interest rates on Sub prime are almost double, and over double in some cases, the rates you could get on the high street from main stream lenders.

The irony is, you could be paying almost double a month to a person who has the same mortgage as you but they've either self certified with a main stream lender or managed to get a mortgage legitimately.

Chip

iTrader: (3)

Im of the opinion that people living on the dole should be housed in a hostel that provides safe and acceptable accomadation, but NOT given their own house, basic food and clothes should be provided, NO money though that can be spent on luxury items at all.

Then state run nursery's shoul be available so that ALL people are in a position to work, if they do so then they will be able to afford a house.


FAR too much in this country gets given to people who arent willing to work, the entire system is structured against them having any motivation to do so.

PeterD

Ace idea, hoewver take into account the cost of building and running them you'd be as well sticking with the current housing stock plus then you would be running the risk of creating the ghetto/housing project's the americans spectacularly fucked up in the 70's.

all a moot point anyway the governments figures seem to be focused on looking good as opposed to actualy being effective.

Chip

iTrader: (3)

The difference is in the long term not the short term.

Currently there ARE birds who deliberately get up the duff repeatedly just to end up in a nice house, if all they got was VERY basic hostel accomodation, then it would more or less totally eliminate this from happening.

THAT is the reason for my way of thinking, not short term costs, its actually trying to sort the root cause of the problem, that for many poorer girls, getting pregnant leads to a better standard of living than getting a job!

percybigun

my ex worked at South cambs council and when the tenants done right to buy, the value they payed was well expensive and not dissimilar to non-council houses for sale in the same areas. alot of the tenants used to go ape and demand re-valuations etc, which often valued them even higher haha

its a welfare state so these things do go on, i'd rather there was some kind of welfare system than none at all. cos its "well fare" haha. unfortunately there will always be people who abuse the system or think that the state or others owe them a living. not all of them are like that though.

PeterD

agreed chip, i was just coming at your idea from a different angle mate

Punkie

By that I meant that sub prime lending is going to eventually collapse things and house prices might become just about affordable.

MikeR

That is a actually a very sensible comment,

I sat and watched in amazment last night with my other half,

Yes these people dealt with dodgy salesman BUT they know they do not earn what they were told to say they did so honestly what did they expect to happen


I am very uneducated in the scheme of things and know how much l earn if i was told to put down more to borrow way above what l could afford to no fucking way,

Mike

RichardPON

What, you think all the people living in London in 250k flats are all earning 50k a year?

Bottom line is, if people didn't either embellish their income to gain a higher mortgage, or turn to lenders that are prepared to lend over 5 times salary, people simply couldn't afford to initially "purchase".

Of course, that is exactly the point, in that they CAN'T afford it, but some people view it as a minimal risk in market with rising house prices.

MikeR

But Rich surely this is what is pushing the problem closer to the edge, if people stood up and could simply not afford it the would house prices stop rising ? l am no expert on this but can not see why people expose themselfs to such rish, hell if i could afford to add another 100k on a morgage offer that l have in front of me l would have a dream house, but to me it simply is not an option

each to there own l guess, like i said l know very little about this subject just what i watched and hear

Mike

PeterD

but isn't that the problems the americans are having right now where lenders have done exactly that, borrowers have borrowed way out their ability to pay and reposesions are now at a record high

the only thing not rising at the same rate of the house prices is the wages, surely the arse must fall out of it at some point?

as per mike i also am not educated in the scheme of things so correct me where im wrong....

PeterD

Why not, an honest living an all that .......

MikeR

Come on Matt, what Chip is saying is that there is very little incentive to work for alot of people these days as they are so well taken care of, you people that pay tax take care of them, funny how people forget that but when tax's raise on other things they jump up and down,

People need to natrually be self motivated these days to get any were because if they sit on there arse the goverment will generally help them out,

I have serious symapthy for those unfortunate souls that have found themselves in this position through very little fault of there own, but alot choose to firmly put themselves there


Mike

PeterD

Mike i think thats why we have such a large immigrant workforce, some brits just cant be arsed.

One of my clients told me the polish just turn up at 6 am, graft then clean the machines then go home at 8. they have just finished building the m9 spur!!

the same folk moaning about immigrants are the mostly the sam folk sitting about on benifits going between the bookies and the pub EVERY day.

matts1

As above, if they didn't keep raising the amount you could borrow, and if people did go along with the dodgy firms that encourage people to borrow over their limit then the market would be alot slower.

Supply and demand, the easier they make it to buy a place, the more people will do it, the more people buying the higher the prices unitl...

People start to get unstuck, and start to lose their houses, interest rate skyrocket to try and calm the buying adding to the problem, so more lose their homes, less people can afford to get on the ladder as the rates are so high and the market starts to fall, leaving many people who just worked hard and played the game in negative equity

RichardPON

Yes, in a way, but in a market with relatively stable interest rates, and relatively huge capital appreciation, the risk is minimal to some degree.

Of course, it's when rates rise, people come out of two year fixed interest onlys and the like, and realise that they actually can't afford it! Of course, some people get away with it, as they bank on certain factors that they have a degree of control over such as income, although this is a slightly different issue than the stuff you saw on TV yesterday. Symptomatic of the same lending issues though.

Of course, there's much more of a knock on effect than simply people not being able to make payments, as it's a lot to do with how the loans are packaged as well....

MikeR

I went through a stage of not being great with money and still i like to spend it, but after i got myself on the straight again and always promised myself l would not over extended myself regardless of what i dreamed of owning or having, because it is not a nice place to be having people on your back for money you simply do not have,

Finacial education should be taught in all schools from an early age, there simply is not enough knowledge of fincial matters held by the mass's and this is a subject that absolutly nobody can avoid in life what so ever

Mike

Chip

iTrader: (3)

That wouldnt be fulliflling our moral commitment to the families involved.

I believe that people should be supported by the state in terms of having a roof over their head and food on the table and medical care, I think that luxury items that people want though, they should have to earn for themselves.

Porkie

iTrader: (1)

Glad someone had a brain....

dojj

iTrader: (3)

as ususal, chip tends to put into a short sentance, what i've been trying to say in a long ramble

someone i know has a few sisters who have gone this way about getting a place to live, then again, some of his sisters have actually gone out and got a job etc and got married before having kids and live in nice houses

the bottom line is that you should encourange peole to get out and owrk, and if that means housing them in a shed or cooping them up 20 to a room, then so be it

the same way as you'll run faster if a hungry lion is chasing you than you will if it is only to get up and make a cup of tea, if you make unemployment a turn off peole wil go and get jobs

Dannn

Well I hope the dodgy lending carries on.....

I look forward to the day (chance are good now) that the shit hits the fan, some banks go down the pan and most importantly the house prices go down quicker than a whores draws...!

MikeR

So do l lol, just building that deposit

Mike