How are your mortgage repayments ?

We have seen reports that repossessions are at a 7 years high. If banks and building societies are so clever and have such brilliant investment strategists, why do they always expect the housebuyers to take the brunt of their failings in predictions of interest rates ? Why when the economists screw up is it always the poorest that get hit first ?How are your mortgage repayments ?
If a lender repossess a house it normally means they were negligent in the original lending. I know there are circumstances beyond everyones control, but they should have a moral obligation and not just service their shareholders.How are your mortgage repayments ?
House paid for no mortgage left to pay thank god.
ain't got a mortage anymore, it cost too much, sold my place to pay the bills, now living in a bedsite.
Finished years ago, thank God ! I think that a lot of trouble today is that people are trying to buy houses that they can't afford.
The trouble actually is that hardly anyone can afford to buy a house, so most people are buying something that they can't manage.
Youre not big on economics are you :)





If you like I can give you a few pointers, Im a bit of a pro on economics lol.





If you are in the UK (which I assume you are) pay close attention to the inflation rate. Most people don't realise what a critical role this plays in setting the interest rates.





Interest rates are a tool of the Reserve Bank to cool down overspending in the market and not letting inflation get out of control. High inflation is an indicator of a bad economy and one that is out of control.





So if you here that the inflation rate is fairly stable then its likely that the rates won't be increased for that quarter. Inflation isn't the be all and end all but without going into every economic aspect of it, inflation rates act as a good indicator of what interest rates are likely to do.





My personal prediction is that interest rates will go up in the UK by about another quarter percent by year end. And then may go up again in the next year or so, but we WONT see the debacle when interest rates skyrocketed because our economy is fairly stable. So while interest rates will go up, they won't go up to the silly levels of yesteryear.





Having said that, interest rates wont go down now for at least a couple of years. The economy operates in cycles, so if you are looking for relief, Im telling you right now, don't expect any for at least a couple of years, and you can quote me on that.
It is ashamed that people with no finance expertise were preyed upon to some extent, but everyone has to take responsibility for entering into an ARM when rates were historically low.
They are ok but our fixed rate ends in January and I dread to think what its going to be like after that.....
Banks are the kings of scamming people, there is no such thing as a free lunch, all their deals are really scams or schemes, I hate both words, they are liars, frauds, con people....they have screwed me up big time with an endowment mortgage and I hate the lot of them. I would think nothing of blowing their F-ing heads off.
No, it's not the poorest who get hit first. It's those people who over-extend themselves financially - those who have no savings and enter into interest-only ARMs for homes way outside of their price range.





Sure, lenders are partially to blame for the easy credit that was floating around out there, but they're paying for it now. Most are tightening their belts in recent months.
what mortgage, I payed cash for my house.

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