Mortgages and Banks

[andrewgoodman121]

[:)]
The way i see things ,when some people on the forum are trying to get a Mortgage while in an IVA and it is still running, they are asking for trouble.
The way i see Mortgages are that you Borrow a Lump Sum to buy your Property plus interest and Stamp Duty and that the period until the House Actually Belongs to you is say 20 - 25 years time after maybe putting down a hefty deposit and stumping up Surveyors and Solicitors Fees in the Process.

What people don't seem to count on is whether they may lose there job in the meantime through Redundancy or Ill Health , they will have credit showered onto them as the Banks would love to get hold of your property through Secured Loans and Credit Cards.

Any person who falls into Arrears are given little to No Help at all from the Banks and are only interested in the Repossession of your Property should this happen to you.

They are ruining ordinary peoples lives who only want to better themselves.

There had my little Rant!!! But it does make my blood boil how the Banking Industry treats it's customers and can see families with kids on the street.

[johnh]

Good news that the Coop and Britannia have merged. At one time it seemed all mutual societies were going to disappear. At least they don't have to feed the egos of their board or greed of shareholders.