Gordon offers everyone a 2 year mortgage holiday

[jesusbuiltmycar]

Our hero, saviour of te world's financial system is using the money from people who've been careful to bail-out those who haven't:

http://www.ft.com/cms/s/0/39ab3296-c143-11dd-831e-...

ft said:

Gordon Brown is to grant homeowners in financial difficulty the right to demand a two-year mortgage holiday, guaranteed by taxpayers, in a dramatic bid to underpin the housing market.

The move will put about £1bn of taxpayers’ money at risk in an attempt to stem the rising flood of repossessions as Britain enters recession and unemployment soars.

Oh well I guess it is only another £1BN (£1,000,000,000) of tax payers money - so small change really....

[_Batty_]

oh well, why bother trying....

FFS.

[juice]

Great - where do I sign up ?

[Puggit]

So we are being frugal, paying off our mortgage and have no debts because...?

[Don]

Puggit said:

So we are being frugal, paying off our mortgage and have no debts because...?

I hear you.

ELECTION!

[sjg]

This is what payment protection insurance is for. So all those who've saved a few quid a month not having it get bailed out anyway - hardly encouraging financial responsibility, is it?

[john_p]

It's not a problem, because it will be funded by the state-owned banks of the UK.

Gordon Brown referred to the banks "THAT WE OWN"

So, there is no problem. Comerade.

[scotal]

What are all these measures going to do to peoples credit profiles???

"Sure you can have a 2 year mortgage holiday, but for Christ's sake dont ever try to get another mortgage, becuase it'll show you as in arrears for 2 years?"

We're royally fked.

[Puggit]

scotal said:

What are all these measures going to do to peoples credit profiles???

"Sure you can have a 2 year mortgage holiday, but for Christ's sake dont ever try to get another mortgage, becuase it'll show you as in arrears for 2 years?"

We're royally fked.

In which case house prices are going to plummet even further...

[Zod]

scotal said:

What are all these measures going to do to peoples credit profiles???

"Sure you can have a 2 year mortgage holiday, but for Christ's sake dont ever try to get another mortgage, becuase it'll show you as in arrears for 2 years?"

We're royally fked.

Quite obvious: the banks will be ordered to extend mortgages to such people.

[evenflow]

john_p said:

It's not a problem, because it will be funded by the state-owned banks of the UK.

Gordon Brown referred to the banks "THAT WE OWN"

So, there is no problem. Comerade.

Got a source for that quote? Can't quite believe he said that!

[o.versteer]

I don't usually join in on these, but this truly takes the piss. My mortgage is just short of 4 figures a month. I think I shall stop paying it and piss it all away instead. It'll help the economy too so we should all do it.

Are they fking mental?

[NoelWatson]

Despair. Genuine despair.

[Chris_w666]

[Austin.J]

Good thing i called him a useless tt when he came to my work the other week.

[john_p]

evenflow said:

john_p said:

It's not a problem, because it will be funded by the state-owned banks of the UK.

Gordon Brown referred to the banks "THAT WE OWN"

So, there is no problem. Comerade.

Got a source for that quote? Can't quite believe he said that!

I've just been listening to the commons debate and it was on it. Unless I took it out of context - there is presumably a listen again option somewhere.

[scotal]

Puggit said:

scotal said:

What are all these measures going to do to peoples credit profiles???

"Sure you can have a 2 year mortgage holiday, but for Christ's sake dont ever try to get another mortgage, becuase it'll show you as in arrears for 2 years?"

We're royally fked.

In which case house prices are going to plummet even further...

Whcih leaves those who've taken a 2 year payment holiday in worse st. The banks will presumably capitalise the interest payable over that time, so the balances will be higher, so these people will be unable to move, with mortgage thats been "adjusted" to a 40 year term......

Last one to leave turn out the lights and all that.

[scotal]

Zod said:

scotal said:

What are all these measures going to do to peoples credit profiles???

"Sure you can have a 2 year mortgage holiday, but for Christ's sake dont ever try to get another mortgage, becuase it'll show you as in arrears for 2 years?"

We're royally fked.

Quite obvious: the banks will be ordered to extend mortgages to such people.

Great, at market rates? please god dont tell me they wont have some sort fo subprime lending?

[cs02rm0]

OUT! OUT! OUT!

[anonymous-user]

Austin.J said:

Good thing i called him a useless tt when he came to my work the other week.

You lucky bd, I'd love to get within spitting distance of him