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Re: BBC Watchdog
Originally Posted by Fred James
(Post 9009862)
I don't understand the situation with these two.
They had a 140k mortgage in Spain and a 250k mortgage in the UK. They say they couldn't afford the payments but with the lower interest rates the payments must have gone down considerably over the last year. They are both employed as paramedics so their income will not have gone down. A bit odd? I don't know what a paramedic earns? 390K in mortgage seems a lot for a couple with two teenage kids to support. |
Re: BBC Watchdog
Originally Posted by missile
(Post 9009878)
I would suggest they bought it with the expectation that it would be self financing and they could rent out when not using it themselves.
I don't know what a paramedic earns? 390K in mortgage seems a lot for a couple with two teenage kids to support. They believe what they hear about expected rental income,... but we all of us here know that there are and have been for many years now unoccupied holiday rentals by the thousand. Of course the banks play a huge part in all of this, and we have to ask ourselves why they let a couple run up such a large dept in the first place. Things didn't get so messy in the days when the banks would only lend on one income not two, and they certainly wouldn't have financed a second home mortgage until the first one was fully paid up. Perhaps people should learn once more to cut the coat according to the width of the cloth! |
Re: BBC Watchdog
Yes I have seen some of those programmes. Amanada Lamb saying some dump would rent for £400 pw:rofl:
Something not right about that story in the DM. Would be interested to see the outcome. |
Re: BBC Watchdog
I think I may have met the people concerned in that article.
If it is the same people that I have met, I thought they were over-reaching themselves at the time. |
Re: BBC Watchdog
Originally Posted by scampicat
(Post 9035909)
I think I may have met the people concerned in that article.
If it is the same people that I have met, I thought they were over-reaching themselves at the time. Only joking. But I have a little sympathy for those caught up in the housing bubble. You could see all manner of idiot/wise investors making money by borrowing vast amounts of money to buy property, as house values "only ever went up". Why work hard when you could make money as you slept? In fact those of us who either chose not to buy, or (in my case) because we didn't have the steady job/regular income, were derided as fools. Perhaps we were, as many did make a packet on the housing helter-skelter. But I can't blame those who speculated, as for a time it was indeed easy money, made possible by lax lending from the banks. Who are now being baled-out by us, the taxpayers. |
Re: BBC Watchdog
Originally Posted by steviedeluxe
(Post 9035929)
Ah - so it's your fault - you should have said something at the time !! ;)
Only joking. But I have a little sympathy for those caught up in the housing bubble. You could see all manner of idiot/wise investors making money by borrowing vast amounts of money to buy property, as house values "only ever went up". Why work hard when you could make money as you slept? In fact those of us who either chose not to buy, or (in my case) because we didn't have the steady job/regular income, were derided as fools. Perhaps we were, as many did make a packet on the housing helter-skelter. But I can't blame those who speculated, as for a time it was indeed easy money, made possible by lax lending from the banks. Who are now being baled-out by us, the taxpayers. I didn't know them well enough to say what I thought! |
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