OFFICIAL - QUICK QUID sponsorship deal OFF!!!

Boggersbelief wrote:

Maybe people will take more notice of what I say now.

Unlikely.

waynagain wrote:

Nobody is 'showing off', I'm just proving what you can do if you don't spend money you don't have. If you bought a house 20 years ago that you couldn't afford you would find yourself in the same situation as people today.

But people, in the main, can afford houses when they have a job. It's when they lose their job that they struggle and turn to firms like Quick Quid.

People earning the average wage (about £25k) aren't going to have £30k in savings to help them if they lose their job. Are you saying they shouldn't buy a house until they have substantial savings?

I'm guessing some of you have forgotten what it's like to be poor. I never forget my Little Lever roots.

Natasha Whittam wrote:

waynagain wrote:

Nobody is 'showing off', I'm just proving what you can do if you don't spend money you don't have. If you bought a house 20 years ago that you couldn't afford you would find yourself in the same situation as people today.

But people, in the main, can afford houses when they have a job. It's when they lose their job that they struggle and turn to firms like Quick Quid.

People earning the average wage (about £25k) aren't going to have £30k in savings to help them if they lose their job. Are you saying they shouldn't buy a house until they have substantial savings?

I'm guessing some of you have forgotten what it's like to be poor. I never forget my Little Lever roots.

I bought my mum a bungalow in Great Lever several years ago. The house next door was bought by a woman on a program where you could buy a house with only 100 pounds downpayment. Within a couple of years she was in foreclosure. Then the town stepped in as she claimed she would have nowhere to live so they let her stay in the house as it would be cheaper for the town than paying rent for another house for her. She still lives in the house and the town still pays her rent. Her boyfriend lives with her (not supposed to), she works 'under the table', her daughter who also works lives there (not reported) and she is an expert on getting every penny she can in benefits. She couldn't 'afford' her mortgage, but can afford Sky's top package, has multiple TV's, computers, goes out to dinner at least twice a week and is in the pub at closing time 5 nights a week. She is not an unusual case, she is more the norm and as long as people are 'rewarded' for being financially irresponsible the 'responsible' will suffer.

Natasha, the 'housing' ladder has also changed from years ago. As you say, the average salary in Bolton is 25K. The problen is that years ago young couples would buy a small cheap terraced house and build some collateral. Then, ten years on they would sell that house and move up to a semi and so on. The problem today is that young newlyweds want to bypass the system and buy a brand new detached on Chorley New Road, even though they only make 25K. The banks happily give them a mortgage knowing that in a short time they can foreclose on the property and then sell it on to the next young couple.

Bernard Dennis Park wrote:



I think they should set up a quick quid booth next to the bar so people can get a loan at half time.

scottjames30 wrote:

Bernard Dennis Park wrote:



I think they should set up a quick quid booth next to the bar so people can get a loan at half time.

so they can gamble?

Gamble, drink and eat over priced pies.

waynagain wrote:

I bought my mum a bungalow in Great Lever several years ago. The house next door was bought by a woman on a program where you could buy a house with only 100 pounds downpayment. Within a couple of years she was in foreclosure. Then the town stepped in as she claimed she would have nowhere to live so they let her stay in the house as it would be cheaper for the town than paying rent for another house for her. She still lives in the house and the town still pays her rent. Her boyfriend lives with her (not supposed to), she works 'under the table', her daughter who also works lives there (not reported) and she is an expert on getting every penny she can in benefits. She couldn't 'afford' her mortgage, but can afford Sky's top package, has multiple TV's, computers, goes out to dinner at least twice a week and is in the pub at closing time 5 nights a week. She is not an unusual case, she is more the norm and as long as people are 'rewarded' for being financially irresponsible the 'responsible' will suffer.

I accept that there is a culture of people that expect something for nothing. I hate these people. As I have said many times on here, I would round them up and have them shot.

But there are honest hardworking people who struggle to get by because of lower wages and higher food and energy costs. When they lose their job they become desperate. These people are not "stupid" as Hipster suggests, but merely a victim of the society we live in.

I have two points to make, the 1st how we got in this mess and the 2nd why the usual rebalancing of property prices hasn't happened, yet at ant rate.

1 Money was made too easily available for mortgages, all common sense went out of window throughout the noughties which also caused prices to sky-rocket making it a double whammy.

2 Under normal circumstances during a recession interest rates would be 2 or three percent higher than inflation [about 6% currently] and banks and building societies would be busy repossessing property and prices would crash. The reason this has not happened is that the government through Quantitative Easing has been manipulating interest rates and is discouraging banks foreclosing on mortgages, the banks don't want them anyway.

Sooner or later this situation will have to end and interest rates [will rise] and property prices will normalise [come down], you have been warned

waynagain wrote:Natasha, the 'housing' ladder has also changed from years ago. As you say, the average salary in Bolton is 25K. The problen is that years ago young couples would buy a small cheap terraced house and build some collateral. Then, ten years on they would sell that house and move up to a semi and so on. The problem today is that young newlyweds want to bypass the system and buy a brand new detached on Chorley New Road, even though they only make 25K. The banks happily give them a mortgage knowing that in a short time they can foreclose on the property and then sell it on to the next young couple.

I agree that people today want to jump straight to a big semi or detached house, and I have little sympathy for those people.

My sympathy lies with those that bought a house they could afford, but circumstances have changed and they now find themselves desperate.

Natasha Whittam wrote:

waynagain wrote:

I bought my mum a bungalow in Great Lever several years ago. The house next door was bought by a woman on a program where you could buy a house with only 100 pounds downpayment. Within a couple of years she was in foreclosure. Then the town stepped in as she claimed she would have nowhere to live so they let her stay in the house as it would be cheaper for the town than paying rent for another house for her. She still lives in the house and the town still pays her rent. Her boyfriend lives with her (not supposed to), she works 'under the table', her daughter who also works lives there (not reported) and she is an expert on getting every penny she can in benefits. She couldn't 'afford' her mortgage, but can afford Sky's top package, has multiple TV's, computers, goes out to dinner at least twice a week and is in the pub at closing time 5 nights a week. She is not an unusual case, she is more the norm and as long as people are 'rewarded' for being financially irresponsible the 'responsible' will suffer.

I accept that there is a culture of people that expect something for nothing. I hate these people. As I have said many times on here, I would round them up and have them shot.

Don't get me started with my bitch of a sister!!!!

Tell us about your sister.

NickFazer wrote:
Sooner or later this situation will have to end and interest rates [will rise] and property prices will normalise [come down], you have been warned

A fiend of mine is a mortgage advisor, he is of the opinion interest rates won't rise significantly this decade. I hope he's right. Imagine being on, say, a mortgage with a 4.75% rate and it jumping to 10% overnight. Most people would be fooked.

Natasha Whittam wrote:

NickFazer wrote:
Sooner or later this situation will have to end and interest rates [will rise] and property prices will normalise [come down], you have been warned

A fiend of mine is a mortgage advisor, he is of the opinion interest rates won't rise significantly this decade. I hope he's right. Imagine being on, say, a mortgage with a 4.75% rate and it jumping to 10% overnight. Most people would be fooked.

He may well be right but the current tactics [QE and low inerest rates] started as an attempt to stimulate growth, so far it hasn't but it has reduced the pain and stopped a possibility of social unrest. The best course of action if you can is to reduce debts while interest rates are low, even using savings as these are reducing in value sitting in the bank. Interest rates can rise fairly quickly once they start to go up, over a long time period 5 or 6 percent is the norm, 0.5 is not.

Natasha Whittam wrote:

waynagain wrote:Natasha, the 'housing' ladder has also changed from years ago. As you say, the average salary in Bolton is 25K. The problen is that years ago young couples would buy a small cheap terraced house and build some collateral. Then, ten years on they would sell that house and move up to a semi and so on. The problem today is that young newlyweds want to bypass the system and buy a brand new detached on Chorley New Road, even though they only make 25K. The banks happily give them a mortgage knowing that in a short time they can foreclose on the property and then sell it on to the next young couple.

I agree that people today want to jump straight to a big semi or detached house, and I have little sympathy for those people.

My sympathy lies with those that bought a house they could afford, but circumstances have changed and they now find themselves desperate.

There used to be a thing called 'saving for a rainy day', that culture seems to have been replaced 'lets go and get pissed and let somebody else worry about paying the bills'. To get a 'regular' mortgage in the USA you have to put down 30% of the cost of the house. This then gives you the opportunity to get a lower interest rate. Most problem mortgages come from people who put down small deposits and then have 'higher mortgage 'adjustable' rates' - which they claim 'can' go down based on the Prime Rate, but never do, and when the rate goes up, so do their payments. What I think banks should do is require that Mortgage applicants should have an escrow account with the bank equivalent to one years worth of mortgage payments in the event that they lose their job. It could even be called a 'Rainy Day Account'!!!

waynagain wrote:Don't get me started with my bitch of a sister!!!!

HBAHT?

Natasha Whittam wrote:

NickFazer wrote:
Sooner or later this situation will have to end and interest rates [will rise] and property prices will normalise [come down], you have been warned

A fiend of mine is a mortgage advisor, he is of the opinion interest rates won't rise significantly this decade. I hope he's right. Imagine being on, say, a mortgage with a 4.75% rate and it jumping to 10% overnight. Most people would be fooked.

Unless you have a fixed rate mortgage, you are subject to the market's whims... often with a cap per year on the up side. It is normally tied to the prime rate.

Will anybody be buying any merchandise from the club, with "Quickquid" on it?

I just bought 5 shirts in the sale. 3 of them were a fiver and 2 were 10 quid, how come they can sell them for such a low price when they were almost 50 quid originally? You'd think that the one's with the sponsor on would be cheaper because you are going out and advertising a product.

Culcheth_White wrote:Will anybody be buying any merchandise from the club, with "Quickquid" on it?

No way.