Rat and Mouse
Wed
22
Oct
Repo tales...

... courtesy of the BBC. How quickly the mortgage culture is changing. Does the sound of this not already make you wince?

My wife and I bought the £195,000 house in Norwich in October 2006 with a 75% mortgage, paying interest at 7.25%. At the start, we were able to keep up the payments between my wife's job as a classroom assistant and mine at Norwich airport, where I was earning £14,000 a year.

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Mr Norwich I have some sympathy for, but the other two stories on this page are mind-boggling - 'Sam' in particular. "Poor me. I borrowed some money, stuck it all on red and I lost. It's the fault of the unscrupulous croupiers."

And am I supposed to be sad that this guy is not now able to be my accountant?

Posted by Morlandovic at October 22, 2008 9:42 AM


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