tag:blogger.com,1999:blog-2948538160252327076.post1683908410061296510..comments2023-11-02T15:48:50.381+00:00Comments on UK Bubble UK Economy: Mortgage fraud rampantAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2948538160252327076.post-11624961871548975372008-09-28T18:05:00.000+01:002008-09-28T18:05:00.000+01:00As far as subprime mortgages the statistics agree ...As far as subprime mortgages the statistics agree that there was Predatory Lending and Mortgage fraud. nomedals.blogspot.comJasonhttps://www.blogger.com/profile/11707747781007743555noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-9381452895353189022008-09-21T21:16:00.000+01:002008-09-21T21:16:00.000+01:00At the end of a crack-up boom, all the rats come s...At the end of a crack-up boom, all the rats come scurrying out. Von Mises said it 100 years ago and it's still true now.<BR/><BR/>NickAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-81247508101588037892008-09-21T20:28:00.000+01:002008-09-21T20:28:00.000+01:00There was a Panorama programme in the Spring about...There was a Panorama programme in the Spring about overvaluations in BTL. Not exactly fraud, but the developer 'gifted' deposits of 15% to late buyers. In this way he didn't have to drop his prices to shift his stock. Result: a mug buys a 200k flat for 'only' 170k with a 170k (85%) mortgage from an even bigger mug lender. The 200k is the price as recorded on the Land Registry. Amazingly, the solicitors for the lender never picked this 'gifting' of deposits up: apparently they will do so now. <BR/><BR/>Cheers, DavidAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-21890536646798171012008-09-21T15:02:00.000+01:002008-09-21T15:02:00.000+01:00I sold my house a few years ago,(4 to5) to a Bto L...I sold my house a few years ago,(4 to5) to a Bto L man, I was pleasanyly surprised to have the buyer agree to my first somewhat inflated price. I took the money and ran.Eric Blood Axehttps://www.blogger.com/profile/16838133655067827221noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-54238637298137378532008-09-21T11:02:00.000+01:002008-09-21T11:02:00.000+01:00Let's face it. If you were daft enough to pay...Let's face it. If you were daft enough to pay 150K+ for a one bed apartment (outside London) in the last year then you are probably a victim of this fraud or some sort of price fixing cartel by the builders and estate agents.<BR/><BR/>The fact that the B&B loan book has almost junk status is an indicator of just how widespread this fraud could have been. <BR/><BR/>I expect B&B to be nationalised which would mean huge bills for the UK taxpayers. I would knock the credentials of any company who takes over this dodgy debt in a merger.mikehttps://www.blogger.com/profile/05772374031938763566noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-20396979591332979922008-09-21T10:48:00.000+01:002008-09-21T10:48:00.000+01:00Good one, Alice.Good one, Alice.Sackersonhttps://www.blogger.com/profile/09410040031410954403noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-75898945749307898032008-09-21T09:28:00.000+01:002008-09-21T09:28:00.000+01:00A very good article about UK banks:Lloyds TSB take...A very good article about UK banks:<BR/><BR/>Lloyds TSB takeover of HBOS leaves Britain’s banks in trouble<BR/><BR/>By Julie Hyland<BR/>20 September 2008<BR/><BR/>http://www.wsws.org/articles/2008/sep2008/hbos-s20.shtml<BR/><BR/>HAVE FUN!!! RAMBOAnonymousnoreply@blogger.com