Register to Comment
Page 2 of 37 FirstFirst 123412 ... LastLast
Results 11 to 20 of 362
Like Tree16Likes
  1. #11
    odie1kanobe odie1kanobe is offline

    Join Date
    Aug 2007
    Posts
    32,132

    2 % of mortgages are impaired at any point in time and comes from various different reasons from deaths to job losses to marraige breakdown to business collapse.

    Issue of whether domestic properties are in negative equity are in reality not an issue provided people continue to make repayment to a mortgage even if only interest only.

    Yup there will be cases where people wil pay mortgages for 30 years die and still have a huge debt BUT that happens anyway so no change there.

    Some families may not get left an inheritance but then again so.
    Sign in or Register Now to reply

  2. #12
    HanleyS HanleyS is offline

    Join Date
    Jan 2007
    Posts
    6,338

    Quote Originally Posted by odie1kanobe View Post
    Issue of whether domestic properties are in negative equity are in reality not an issue provided people continue to make repayment to a mortgage even if only interest only.
    Provided being the operative word. LTV is only a measure of the impact of default. Widespread reduction in net wages increases the likelihood of default.
    Sign in or Register Now to reply

  3. #13
    Hal Hal is offline

    Join Date
    Jul 2009
    Posts
    2,003

    Quote Originally Posted by HanleyS View Post
    Provided being the operative word. LTV is only a measure of the impact of default. Widespread reduction in net wages increases the likelihood of default.
    Widespread reductions in interest rates and the ability to fix at good rates decreases the likelyhood of default. Depends on how your glass looks.
    Sign in or Register Now to reply

  4. #14
    odie1kanobe odie1kanobe is offline

    Join Date
    Aug 2007
    Posts
    32,132

    Quote Originally Posted by HanleyS View Post
    Provided being the operative word. LTV is only a measure of the impact of default. Widespread reduction in net wages increases the likelihood of default.
    LTV is irrelevant as valuers have pretty much no idea of how to value a property.
    Sign in or Register Now to reply

  5. #15
    HanleyS HanleyS is offline

    Join Date
    Jan 2007
    Posts
    6,338

    Quote Originally Posted by Hal View Post
    Widespread reductions in interest rates and the ability to fix at good rates decreases the likelyhood of default. Depends on how your glass looks.
    Interest rate decreases are a temporary phenomenon and are resulting in huge losses for the banks. RBS have already quarantined their Irish tracker mortgages. Leave the discussion of property business to the adults.
    Sign in or Register Now to reply

  6. #16
    HanleyS HanleyS is offline

    Join Date
    Jan 2007
    Posts
    6,338

    Quote Originally Posted by odie1kanobe View Post
    LTV is irrelevant as valuers have pretty much no idea of how to value a property.
    I intended to refer to the actual L and the actual V, not that measured at inception of the loan and not that measured by a valuer. It doesn't matter what the valuer says when the mortgageholder actually defaults and the bank or NAMA has to recover the loss.
    Sign in or Register Now to reply

  7. #17
    Hal Hal is offline

    Join Date
    Jul 2009
    Posts
    2,003

    Quote Originally Posted by HanleyS View Post
    Interest rate decreases are a temporary phenomenon and are resulting in huge losses for the banks. RBS have already quarantined their Irish tracker mortgages. Leave the discussion of property business to the adults.
    Did you miss the bit about fixing at good rates?
    I can't just leave it to the adults, they all agree with me, you're one of the kids I need to engage with.
    Sign in or Register Now to reply

  8. #18
    anewbeginning anewbeginning is offline

    Join Date
    Jan 2009
    Posts
    7,065

    The more loans the bankers gave out, the bigger their bonuses.

    Hence we the taxpayer are left with huge loanbooks. Those loans fed the property bubble and we had our own subprime bubble here in Ireland with 100% mortgages. Banking de-regulation and allowing in many competitors was a major mistake. Lending criteria were greatly relaxed as banks competed with each other to get mortgage customers on board.

    All of this was a train crash in slow motion, and the government refused to put the brakes on in a timely manner. But that's what you get when you have gombeens as Taoisigh and ministers for finance. Completely unqualified for the job and too arrogant to seek advice from those who know what they are talking about.
    Sign in or Register Now to reply

  9. #19
    HanleyS HanleyS is offline

    Join Date
    Jan 2007
    Posts
    6,338

    Quote Originally Posted by Hal View Post
    Did you miss the bit about fixing at good rates?
    I can't just leave it to the adults, they all agree with me, you're one of the kids I need to engage with.
    You have been repeatedly shown to have a fundamental misunderstanding of property business and economics. People cannot switch from variable to fixed rates and even if the banks did allow them they would charge more than a struggling household can afford to pay.
    How you can beat the banks’ rate increases - Charlie Weston, Columnists - Independent.ie
    Sign in or Register Now to reply

  10. #20
    Hal Hal is offline

    Join Date
    Jul 2009
    Posts
    2,003

    Quote Originally Posted by HanleyS View Post
    You have been repeatedly shown to have a fundamental misunderstanding of property business and economics. People cannot switch from variable to fixed rates and even if the banks did allow them they would charge more than a struggling household can afford to pay.
    How you can beat the banks’ rate increases - Charlie Weston, Columnists - Independent.ie
    Not only have I not been repeatedly shown, I have not been shown once to misunderstand anything of property business or economics, that's just wishful thinking on your part. You take someone disagreeing with you to mean they are automatically wrong, this is not the only possibility, you might consider the alternative.

    Speaking of being wrong, where did you get the idea that you cannot switch from variable to fixed, you can do that at any time and there is no charge when doing this. Going in the reverse direction before your fixed term has run its course is where there might be a problem.
    Sign in or Register Now to reply

Page 2 of 37 FirstFirst 123412 ... LastLast
Sign in to CommentRegister to Comment