Comments on: Sharing The Blame http://www.thepickards.co.uk/index.php/200809/sharing-the-blame/ standards, accessibility, and ranting and general stuff by the web chemist Sat, 04 Oct 2008 06:46:44 +0000 http://wordpress.org/?v=2.6.2 By: JackP http://www.thepickards.co.uk/index.php/200809/sharing-the-blame/#comment-39706 JackP Tue, 30 Sep 2008 08:48:03 +0000 http://www.thepickards.co.uk/?p=992#comment-39706 I also liked the comedian (can't remember who - was on '8 out of 10 cats') who pointed out the problem with 125% mortgages. Basically, when you start one, you don't own <strong>0%</strong> of the property. You own <strong>-25%</strong> of the property, meaning that a man who walks past your house actually owns more of it than you. The comedian suggested this was probably <em>not</em> a good thing. I also liked the comedian (can’t remember who - was on ‘8 out of 10 cats’) who pointed out the problem with 125% mortgages.

Basically, when you start one, you don’t own 0% of the property. You own -25% of the property, meaning that a man who walks past your house actually owns more of it than you.

The comedian suggested this was probably not a good thing.

]]> By: mark fairlamb http://www.thepickards.co.uk/index.php/200809/sharing-the-blame/#comment-39703 mark fairlamb Tue, 30 Sep 2008 08:07:01 +0000 http://www.thepickards.co.uk/?p=992#comment-39703 i would never claim to be a financial whizz - you just have to see my bank statements to work that out - but was it just me who noticed that loans have been going to people & companies with bad debt histories? it's ok saying your books look good because you are owed lots of money, but that's no good to anyone unless you've actually got a chance of seeing that money again. companies have been selling these debts on, but somewhere down the line someone has to reclaim the cash. like the saying goes - if i owe you £100 i've got a problem, if i owe you £1000 you've got a problem. i would never claim to be a financial whizz - you just have to see my bank statements to work that out - but was it just me who noticed that loans have been going to people & companies with bad debt histories?
it’s ok saying your books look good because you are owed lots of money, but that’s no good to anyone unless you’ve actually got a chance of seeing that money again.
companies have been selling these debts on, but somewhere down the line someone has to reclaim the cash.
like the saying goes - if i owe you £100 i’ve got a problem, if i owe you £1000 you’ve got a problem.

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