1. John McCabe

    This is going to be a nightmare trying to sort out who deserves help and who doesn’t. Did you see those 2 couples on the Late Late show last Friday? Tubridy is a clown ans this is cheap tv at it’s worst/best. This subject should not have been brought up on this type of show but a more financially savvy show. It was the banks fault of course that these people were in this trouble. Tubridy never picked up on the couple living in Kildare that they borrowed 280k to buy the house and then another 60k to do it up! 60k for doing it up. Come on these people wanted the MTV cribs type house. The wife in the couple living in Cavan asked how are these banks allowed to come in to this country and charge rates of 6 and 7%. This is a giveaway,Tubridy never flagged that the mainstream banks charge between 2.25% and 4%. 6%+ rates are subprime rates. Subprime mortgage lenders give money to people who have a history of missing loan repayments. Enough said, this is too depressing to write about anymore especially now that the recession will continue for another few years because the French robbed us last night.

  2. Many thanks to ‘What Goes Up’ from the propertypin for the house graphic! I tried to work the ‘thank you’ into the post but my formatting ability is awful and was messing up the alignments. anyway WGU cheers! karl

  3. @John McCabe the 6% could have easily been a 5yr fixed rate or something? although the line where she said ‘how can banks come into this country’ would kind of imply their loan is with a newly established specialist lender, they also never covered the fact that he contact was within the CCA 1995, if it wasn’t then the regulator should have been informed but that is probably a side issue. I agree that the tubridy show gave it all kind of one sided but something has to be done for families in trouble, there is just no easy solution, with over 30,000 people in arrears what other alternative is there than some kind of NAMA for the people? I don’t think that agreeing or disagreeing is going to make any difference, I’d say the political will is there it is just a matter of what structure it will take

Trackbacks for this post

  1. Mortgage Rescue Scheme -

Leave a Comment

Awesome! You've decided to leave a comment. Please keep in mind that comments are moderated.