Re: economy..
 

:winner:

I'm with Luke on this one, they can fall when I've sold mine. A month on the market and one viewing makes me think it might take a while however....

Re: economy..
 

I had clients in last week, they were not quite 2 months in arrears because he's a manufacturing engineer and his hours have been cut back. I couldn't believe how vicious the lender was being - a building society - in the first letter they even advised them to go talk to the local council so as to be sure they had alternative accommodation for when they were evicted. They have 4 kids between 15 and 3. If I can work out how to do it, I'll post an edited version of the arrears letter. I've replied in a firm but tactful way to see if we can come to some arrangement but I can see I'll have a battle to keep them out of possession proceedings.

However on the other hand, I do agency mortgage litigation advocacy, so I will probably end up doing a few repossession hearings myself.

Re: economy..
 

Once again the Labour Government is bankrupting the country, good work!

Anyone who thinks the economy is stable; please try to understand how percentages work. Debt is rising on an exponential scale, wealth isn't...

Re: economy..
 

Everyone in "bulk letter writing" grades currently employed by banks & building societies is probably young enough to only remember low interest rates and ever increasing house prices :D Although I suspect the bulk letter writer is now a computer :D

To be honest, if that was the opening salvo letter I wouldn't worry too much about the wording, I got a red reminder from Severn Trent the other week (after their balls ups, profiteering, and insistance that every time it rains it's "an act of god") I've taken them off direct debit. And as a result I forget. Anyway, even the red reminder was full of "thou shalt be sent to the poor house and fed a diet of bread and.... no... wait... just bread" etc.

Re: economy..
 

With the risk of turning this into a political debate, I spoke to my grandmother over the weekend who has been on this planet alot longer than most here ( she's 91 ) She still has all her marbles.

Anyway she said throughout her lifetime, she noticed Labour Governments spend spend and keep on spending till there's nothing left and were in poo.
Tory's come along in charge and oh sh*t no money in the kitty. Everyone gets hacked off as tax is increased to claw some money back and everyone then hates the Tory's. Eventually money is built up just in time for Labour to come into power and blow it all again.

Makes sense to me

Re: economy..
 

The house price changes are symptoms of a bigger problem relating to issues in the credit markets, and people having overstretched themselves with credit/mortgages. That's what is affecting the economy at a wider level, and what we should be more concerned about.

IMO the economy is more stable than it has been in past periods of trouble, and with interest rates lower than say the 1990 era the downturn is unlikley to be as bad and many people will be able to ride this out.

But if you've just come out of a fixed rate mortgage and are seeing a big interest rate jump, are having to sell up having recently bought a property, or you're one of the unlucky ones whose job is being affected by the downturn then it is going to be a tougher time.

Re: economy..
 

I don't understand that, surely it's in their interests to try and keep the arrangement on track?

Re: economy..
 

I'd worked that out by the time I was 15, having lived through the early 70's and Labour's imbecilic economic policies of the time. A quick check through recent history seems to confirm this. Look at any country where there is a socialist government and you will see high taxes and stifled enterprise.

If we saw a decent return on the billions they are throwing around, then great - but 10 years in and nothing is better. On a personal level, things have got worse under this government. Fed up of paying for something I never get. They have to stop promising jam tomorrow and start delivering.

Re: economy..
 

Ive got a big mortgage so the last thing I want is for prices to be slashed. If that happens, we'll have to ride the storm out in this 2 bed property. Fortunately I am in job which isnt affected by the markets and if anything an uprising will only bring overtime :D

Our 2 yr fixed rate is due up this year but looking to switch once its up.

Re: economy..
 

I'm so close! (touch wood) survey was done last week. Can't be long now. This isn't just a house sale; it's my new bike we're talking here!