Tankus Posted August 5, 2008 Author Report Share Posted August 5, 2008 things were very different in the 60shey watchful ...were you a hippy chick ...? Quote Link to comment Share on other sites More sharing options...
Watchful Posted August 5, 2008 Report Share Posted August 5, 2008 I sure was :D Still got the CND badge to prove it. Quote Link to comment Share on other sites More sharing options...
andsome Posted August 5, 2008 Report Share Posted August 5, 2008 I agree with what has been said above. 125% mortgages should never have been allowed! :0 We were only given a 90% one but then things were very different in the 60s and we managed with what we had, without credit.People today expect EVERYTHING to come to them at once. When we bought our first house, we bought for cash a cheap three piece suite, a very very cheap bedroom suite, a carpet for the lounge only and a cheap transistor radio. That was all that we could afford at the time. Other stuff was bought as and when we could afford it. My grandfather gave us an old dining suite. I bet we were a damned sight happier and content than many of the 'want it all now' brigade. :D Quote Link to comment Share on other sites More sharing options...
Tankus Posted August 5, 2008 Author Report Share Posted August 5, 2008 yeah , but your having the tail end of the golden age as a senior citizen ........ Its going to be a hard, hot, harsh world by the time I reach national retirement age (probably around 85 ) Quote Link to comment Share on other sites More sharing options...
andsome Posted August 5, 2008 Report Share Posted August 5, 2008 :lol: :lol: :lol: Quote Link to comment Share on other sites More sharing options...
catgate Posted August 5, 2008 Report Share Posted August 5, 2008 yeah , but your having the tail end of the golden age as a senior citizen ........ Its going to be a hard, hot, harsh world by the time I reach national retirement age (probably around 85 )There are very few people in industry today that are likely to reach retiring age.Currently they will either succumb to one of the many modern lethal "problems" or they will be "allowed" to take early retirement (to aid company profits).By the time you get anywhere near retirement age, what ever it is, you will have to be living in the Far East to be in a job.The simple fact that the amount of money in circulation is infinitely less than the goods and services in the community should tell anyone with any commonsense that there is only one outcome, yet our "leaders" and captains of industry and business are either too ignorant or too greedy to see it and act accordingly. The old saying about the cake and the ha'penny is still true. Quote Link to comment Share on other sites More sharing options...
catgate Posted August 5, 2008 Report Share Posted August 5, 2008 http://thelakelandersview.blogspot.com/200...n-past-six.html Quote Link to comment Share on other sites More sharing options...
Watchful Posted August 5, 2008 Report Share Posted August 5, 2008 Makes you sick don't it ? Quote Link to comment Share on other sites More sharing options...
CurlyWhirly Posted August 5, 2008 Report Share Posted August 5, 2008 Although Northern Rock has paid back quite a high percentage of the Bank of England loan (£9.4 billion of the original £26.9 billion), this was achieved by persuading people with good credit ratings to migrate to other lenders once their discounted deals came to an end.This leaves many people on the 125% mortgages with nowhere to go as they can't remortgage due to the credit crunch and so could lose their homes :( I myself have tried to remortgage but am finding it difficult as I am with an agency and so don't have a 'permanent' job as such.I'm also paying Northern Rock's SVR of 7.49% but am not that concerned as I only have a small mortgage of around £25,000I wouldn't want to be paying the SVR of 7.49% on a 125% mortgage though :0 Quote Link to comment Share on other sites More sharing options...
andsome Posted August 5, 2008 Report Share Posted August 5, 2008 http://thelakelandersview.blogspot.com/200...n-past-six.html Ain't it typical? Quote Link to comment Share on other sites More sharing options...
Tankus Posted August 5, 2008 Author Report Share Posted August 5, 2008 The internal memo said the recently nationalised bank had the equivalent of 176 full time workers in the division at the end of April. But this number is set to increase to 444 by the end of March next year, the memo reportedly said.NR have been shedding staff and cutting costs across the board , apart from their debt management dept ......Once the high rating debtors have moved out , they are going to come down hard and fast on the remaining mortgage holders if they default on payments , they have to realize the capital against the loan, to minimize the losses to the tax payer and gordons embarrassment ......!If the value of the capital against the loans is decreasing month by month ...... well ironic innit ! Guidolooks like repossession is policy Its all about salvaging gordons legacy ...and stuff the peopleBest of luck Curley ....your lucky your not up to the hilt , expect NRS %rate to go up though, to get people to swop lenders and get off the NR's books ....Northern Rock post nationalization business plans # Repaying the Bank of England debt by the end of 2010# Completing release of HM Treasury guarantee arrangements by the end of 2011Gordon wants his (our tax) money back by the elections , one less stick to hit him with , but the £3.4 bn pumped into the Rock today was not part of the original plan , Vince Cable came close today to saying that the government and the rocks management have effectively lied over the security of the loans ....He accused Alistair Darling of misleading parliament when he pledged that taxpayer loans would be secured on mortgage assets, following today's surprise move to turn £3.4bn of the loans into shares."Alistair Darling assured parliament that taxpayer loans to Northern Rock would be fully secured on mortgage assets. This is clearly not true," Cable said."£3.4bn of the government's loan to Northern Rock is now being converted into ordinary shares, which rank right at the bottom for repayment. Continuing losses at the bank put this money at great risk," he added.The Newcastle-based bank admitted that increasing numbers of its customers were having difficulty paying their loans and that it had repossessed 3,710 homes so far this year, almost 1,500 more than in the first six months of 2007Hmm near £600m loss for the first 6 months , 22 months to go to the next elections , and a one off (only one government payment allowed under EU rules )cash boost of £3.4bn .... Looks like Darling expects it to get a lot worse .The rate of repayment back to the government will reduce as the ratio of mortgage swappers to defaulters changes . Kiss goodbye to £3.4bn just for starters Camerons going to have a major funding problem when he gets in Quote Link to comment Share on other sites More sharing options...
andsome Posted August 6, 2008 Report Share Posted August 6, 2008 Deeper and deeper into the mire Quote Link to comment Share on other sites More sharing options...
CurlyWhirly Posted August 6, 2008 Report Share Posted August 6, 2008 Best of luck Curly ....your lucky your not up to the hilt , expect NRS %rate to go up though, to get people to swop lenders and get off the NR's booksEven if the Bank of England doesn't officially put up interest rates? I was made redundant from my last job (of 17 years) in March this year and am currently with a recruitment agency which isn't classed as a secure job so I can't remortgage.Having said this, with the credit crunch and banks no longer willing to lend, I doubt whether I would be able to remortgage in any case! Quote Link to comment Share on other sites More sharing options...
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