What's the housing market like at the moment?

[Phylis 10]

And the ones that aren't sensible with their money, and haven't got 105% mortgages?

 

 

 

 

.........

 

Are about to buy as boat this weekend:D:D:D:D

[numbercrunch 10]

Are about to buy as boat this weekend:D:D:D:D

 

a wise choice - something to live in if you get repossessed

[Phylis 10]

a wise choice - something to live in if you get repossessed

 

Not quite. More of something to thrash around in and have some fun. Good looker too. :D:D

[Sheffy2008 10]

Not quite. More of something to thrash around in and have some fun. Good looker too. :D:D

 

Mewing can be addictive, allegedly.

 

 

 

 

.......

 

 

 

In for a penny in for a pound.

 

 

 

 

...

[Phylis 10]

Why not. If it all goes wrong the loan is secured on the boat, they take it. We will still be owed money as the finance is only for a half of the vessels value. Boats dont depreciate at the same rate as cars we are looking at a loss of less than a thousand a year. You only live once you may as well make the most of it.

[Sheffy2008 10]

Why not. If it all goes wrong the loan is secured on the boat, they take it. We will still be owed money as the finance is only for a half of the vessels value. Boats dont depreciate at the same rate as cars we are looking at a loss of less than a thousand a year. You only live once you may as well make the most of it.

 

 

One small problem with that Phyllis.

 

 

If the value of your home drops as much as many are presently, they take the boat, sell it for a tenth of the value, and you still owe 40%, secured on your home I presume.

 

If you home then loses its value during this present property crash, then it's not such a great ride.

 

In fact it's not a ride at all, it's more of a sinking ship.

 

 

 

 

 

.....

[Phylis 10]

One small problem with that Phyllis.

 

 

If the value of your home drops as much as many are presently, they take the boat, sell it for a tenth of the value, and you still owe 40%, secured on your home I presume.

 

If you home then loses its value during this present property crash, then it's not such a great ride.

 

In fact it's not a ride at all, it's more of a sinking ship.

 

 

 

 

 

.....

 

Thing is they cant touch the boat it is not attached to our mortgage in any way shape or form. It is subject to its own marine mortgage. There is no link to the two other than the owner. Much in the same way the boat mortgage has no link to our house hence the marine mortgage provider has nothing to do with the house.

[Tony 10]

Resist Phylis

[Phylis 10]

Resist Phylis

 

Must resist

Must resist

Must resist

Must resist

Must resist

[Sheffy2008 10]

Thing is they cant touch the boat it is not attached to our mortgage in any way shape or form. It is subject to its own marine mortgage. There is no link to the two other than the owner. Much in the same way the boat mortgage has no link to our house hence the marine mortgage provider has nothing to do with the house.

 

 

 

A court charge is a court charge.

 

 

All items are chargeable.

 

 

 

........

[Cyclone 10]

A court charge is a court charge.

 

 

All items are chargeable.

 

 

 

........

 

And we already discussed this, charges are rarely made and only if you as the debtor refuse to make any voluntary arrangement after defaulting for many months.

 

I just popped in to post this though;

Shares in some of the UK's biggest housebuilders took another pounding this morning after the latest report on the state of the market showed that the number of homes sold had "collapsed" to their lowest level in 30 years.

 

Barratt was the biggest faller, down 12pc to 106.75, and fellow FTSE 100 company Persimmon fell 5pc to 406p. Redrow shares were down 8pc to 181.25, and Bovis Homes weakened 5pc to 354p.

 

Ouch.

[Tony 10]

Not to mention the idiot of a chairman at Nationwide putting his foot in his mouth.