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( , Sun 1 Apr 2001, 1:00)
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( , Thu 2 May 2013, 8:08, 1 reply, 12 years ago)

lots of people complaining that their banks expect them to pay off the balance now their interest only mortgages are coming to an end. seriously.
people are THAT stupid.
( , Thu 2 May 2013, 8:23, Reply)

( , Thu 2 May 2013, 8:27, Reply)

Strangely enough, Aberdeen is the same, yet has unemployed people on massive schemes. Something to do with highly specialised industries requiring highly skilled staff or sutin.
( , Thu 2 May 2013, 8:30, Reply)

( , Thu 2 May 2013, 8:56, Reply)

If they'd been to an independent mortgage adviser they would have been recommended a repayment vehicle. We take extra approval steps for io mortgages into retirement with no vehicle, and for new mortgages it's unlikely to be for an LTV above 60%.
But anyone using IO for a residential mortgage is a twat anyway, innit. This is why it's mainly used for BTL.
I know nothing of mortgages or financial advice, Soz.
( , Thu 2 May 2013, 8:28, Reply)

as if an endowment would continue to grow at 8% a year or something for 25-30 yrs in the boom/bust cycle economy Britain has.
"Look, you can pay less and it will magically turn into more without you doing anything".
( , Thu 2 May 2013, 8:29, Reply)

That sort of return, judging by short term returns, were feasible. Misselling has nothing to do with investment performance. Also, the current report says that a hefty proportion of those borrowers have no repayment vehicle in place. It also doesn't state how many of those mortgages were non-advised, or advised by a bank. Bank advice is laughable.
( , Thu 2 May 2013, 8:34, Reply)
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