....never get a mortgage...

[jinjo5]

What is the most imprisoning thing a UK citizen can do today......get a mortgage!.its something i would never do,although the reasons are quite obvious,i will elaborate later.What do you think?

[21_12_2012]

What is the most imprisoning thing a UK citizen can do today......get a mortgage!.its something i would never do,although the reasons are quite obvious,i will elaborate later.What do you think?

hahahaa you crack me up.... i say this ALL the time....straight up !
"You'll never catch me with that ball and chain around my neck" is one of my favourite sayings hahaaa

[mickyjay]

What is the most imprisoning thing a UK citizen can do today......get a mortgage!.its something i would never do,although the reasons are quite obvious,i will elaborate later.What do you think?


I've got one and at the moment I'm paying for it out of my industrial injuries claim, I am currently unable to work after my accident and don't know how this will affect me in the future because the money won't last very long. But the problem with housing shortages and the influx of migrant workers into the U.K means that if your not a home owner your going to struggle soon wherever in the U.K you are, to find accomodation.

[pedsi]

Dark days lie ahead for anyone laiden with substantial financial debt im glad im
not one of them

[jinjo5]

Sorry to hear about your predicament mate,but as soon as you take a mortgage out you are setting yourself up for endless problems...you dont know what is going to happen during your life.briefly,your employer and bank has you by the bollocks for the next 25 yrs at least.......you miss a few payments and you will see who the house really belongs to.In saying that hope things work out for you.

[21_12_2012]

I've got one and at the moment I'm paying for it out of my industrial injuries claim, I am currently unable to work after my accident and don't know how this will affect me in the future because the money won't last very long. But the problem with housing shortages and the influx of migrant workers into the U.K means that if your not a home owner your going to struggle soon wherever in the U.K you are, to find accomodation.

Hope things turn around for you...i rent a flat and have no intention of moving out of here, for the forseeable future anyway....i have also heard that the housing market is going to crash soon, same as in usa, but even if the prices crash VERY LOW, i will still rent.....i don't think i could sleep at night with a mortgage.....but, never having had one, maybe i could..haha..but i dont want to find out really.

[jinjo5]

Have you noticed how house prices are suddenly rocketing before a predicted crash......somebody knows what they are doing!

[21_12_2012]

Have you noticed how house prices are suddenly rocketing before a predicted crash......somebody knows what they are doing!

Dam right they do mate.

[mickyjay]

Sorry to hear about your predicament mate,but as soon as you take a mortgage out you are setting yourself up for endless problems...you dont know what is going to happen during your life.briefly,your employer and bank has you by the bollocks for the next 25 yrs at least.......you miss a few payments and you will see who the house really belongs to.In saying that hope things work out for you.

Thanks, I'm keeping positive.

[mickyjay]

Hope things turn around for you...i rent a flat and have no intention of moving out of here, for the forseeable future anyway....i have also heard that the housing market is going to crash soon, same as in usa, but even if the prices crash VERY LOW, i will still rent.....i don't think i could sleep at night with a mortgage.....but, never having had one, maybe i could..haha..but i dont want to find out really.

Thanks

[mickyjay]

Have you noticed how house prices are suddenly rocketing before a predicted crash......somebody knows what they are doing!


My house is worth 3 times what I took it out as 8 years ago. I suppose the good thing is that if I wanted to sell it now I wouldn't have a problem getting more back than what I took out on the mortgage, but of course I would have to find rented accomadation then.

[yellow]

Well i am glad i took out a mortgage 18 years ago as i have nearly paid it of and so can live rent free for the rest of my days and i am only 42 and have something to leave my kids.. Back then houses were cheap though so you guys are right to question if its the right thing to do as it is such a huge burden unless you earn loads of money which i don't and i could not afford a mortgage on my salary with todays house prices.

I refuse to use a credit card these days as well.

[intruder]

Always seemed like a trap to me....it's IN the word.

A "mort" - gauge....

paying it till the day you die

[mickyjay]

Always seemed like a trap to me....it's IN the word.

A "mort" - gauge....

paying it till the day you die

Interesting observation.

[21_12_2012]

My house is worth 3 times what I took it out as 8 years ago. I suppose the good thing is that if I wanted to sell it now I wouldn't have a problem getting more back than what I took out on the mortgage, but of course I would have to find rented accomadation then.

My mum and dad are preparing to move house right now, and I have advised them that if i were in their position i would probably sell, and rent until prices drop...but...who knows how long that might take...plus they're in their 60's and don't really want to be messing around moving from here to there and moving again etc....but i have a feeling that house owners who sell about now, and do start renting, could make a lot of money in the near future...

[21_12_2012]

Well i am glad i took out a mortgage 18 years ago as i have nearly paid it of and so can live rent free for the rest of my days and i am only 42 and have something to leave my kids.. Back then houses were cheap

Well done mate...if i wouldn't have messed around as much as i did when i was younger, i would have been in a similar position....ah well..never mind....never know what's round the next corner...might hit the lottery jackpot tonight....ha

[trinity1]

On an average house it's still cheaper to get a mortgage rather than pay rent. If you pay rent, you're simply paying someone else's mortgage for them.

I bought my house 5 years ago for £75,000 and it's now "worth" £160,000 at least. It's just a 3 bedroom terrace, an average family home. I'll do my utmost to stay here because when it's paid off it's mine. I know that on an average mortgage you actually repay about three times what you borrowed, but at some point the payments will stop and it'll be mine. You can never pay your rent off.

[21_12_2012]

On an average house it's still cheaper to get a mortgage rather than pay rent. If you pay rent, you're simply paying someone else's mortgage for them.

I bought my house 5 years ago for £75,000 and it's now "worth" £160,000 at least. It's just a 3 bedroom terrace, an average family home. I'll do my utmost to stay here because when it's paid off it's mine. I know that on an average mortgage you actually repay about three times what you borrowed, but at some point the payments will stop and it'll be mine. You can never pay your rent off.

Correct....but my situation has been...ermm..a complicated one to say the least !

I have lived in various places with various women over the years, and even lived abroad for a while, so i never got 'settled' anywhere.
Only recently did i move to where i am now, single for once, and, due to some kidney trouble i have been having, I am currently on the 'sick', so my rent is paid, council tax etc and I am in a very nice flat, so staying here for the time being seems the most sensible option.

[exmicrochipmafia]

Funny, but I'm actually beginning to write about this very thing. It's another control within a system of controls. You never really own your house, even after the mortgage is paid off. It's called property taxes. Don't believe me; refuse to pay them and see what happens. The police show up and take you from your own land and then the state seizes the house and property to sell it right out from under you and you're left with nothing.
And the kicker is that so many people are buying into it, even with housing rates skyrocketting...
I'm in Canada by the way and it's all the same system right through all 'western democratic societies.'

[wanderer]

"What is the most imprisoning thing a UK citizen can do today......get a mortgage!"

Well...I've got a mortgage (dead pledge), and I'm not in the slightest bit worried!

As with everything else in the physical world - it only becomes a problem if you give it power - the power to make you fearful - the power to own you - and ultimately, if you so desire it, the power to kill you!

Couldn't give a flying fig if I lost my job tomorrow either - because I am loved - and I AM LOVE.

All you have to do is have faith in YOU. Real faith! Not in matrix money, or the pointless repetitive daily actions that keep you grasping for it. You can really play the Matrix, especially when you get a peek at how it operates. Don't be fearful of it - it has so much less power than you realise.

It has less than six human years remaining!

Then we move on to something considerably more interesting!

He he!:)

[john white]

Always seemed like a trap to me....it's IN the word.

A "mort" - gauge....

paying it till the day you die

Its derived from the French

As in "Dead Weight", a weight around ones neck

All a mortgage is is a slave contract to "gift" the bank with the real produce of ones labour for a quarter of a century in exchange for some illusionary credit: in other words, to give to the system the lions share of the energy of ones life. The creator had a different purpose for that energy, of that i'm sure

[kaiser]

Ive had a mortgage for a couple of years now, i often look at my monthly budget and freak cos 70% of my outgoings are mortgage related lol. What a game! Im considering selling up next year if its not to late and ging ont he road to see this country we all love lol.

[andrew wilson]

This is all fearmongering nonsense. Buy a home if that is your desire. If you prefer to rent, then rent. It seems that we see much more of this kind of self-congratulatory back-slapping amongst those who cannot afford to buy a home, whilst they sit back and pray for those with them to be "taught a lesson" for owning one.

I have never understood why certain people want to see others loose all they have to a banking system which they obviously oppose? It's quite sickening, to be frank.

[john white]

This is all fearmongering nonsense. Buy a home if that is your desire. If you prefer to rent, then rent. It seems that we see much more of this kind of self-congratulatory back-slapping amongst those who cannot afford to buy a home, whilst they sit back and pray for those with them to be "taught a lesson" for owning one.

I have never understood why certain people want to see others loose all they have to a banking system which they obviously oppose? It's quite sickening, to be frank.

Well Andrew, I wonder if you would be able to track a specified amount deposited in a bank vault through the lending process to a vault in another bank and demonstrate for us that money lent as mortgages actually exists, as anything else than a fractional deposit provided by the borrower (I have to admit, that twist is a masterstroke)

Lets just extend the small possibility that you cannot ('cos that’s not how the system works: money comes into existance purely as credit, economic fact): can you explain why we should accept a system governing and restricting the potential of all our lives when it is so obviously and manifestly bollocks? I call the massive fear and stress of "losing ones job" and "not being able to pay the mortgage" fear mongering nonsense myself: and rightly so, when it visibly blights lives, for the convenience of maintaining the hegemony of those at the top

I call the massive fraud of a banking system based on usury and lending illusion quite sickening, to be frank

[wanderer]

Well put Mr. White - but it is also an illusion!

And as to the 'the massive fear and stress of "losing ones job" '
well this too is an illusion, which can be overcome by realising just who you are.

You obviously understand that, otherwise you wouldn't be posting here - now you've just got to KNOW it.

[little_wolf]

bounce

[misscpb]

Hi Everyone

A few years ago I tried to buy a house, I went in total for three houses one after the other and got to the stages of having paid for the surveys and close to signing and various things happened whereby the sales fell through.

Looking back now I feel happy that I did not commit myself to 25 years of repayments, part of myself did not want to be tied down in such a way, and then I came across the work of David Icke etc and was fascinated to read all about the way banks work etc, but by that time in my life I already had the dreaded credit cards though. So, I decided to rent property instead.

I have a relative who is due to move into a new house and they have just taken out a £1600 a month mortgage, one hell of an amount for a young couple in their thirties, it would give me a heart attack!!

I suppose its down to personal choice and you have to do what you feel is right, but I for would never want a mortgage and look forward to the next few years when I will have had the opportunity to save some money so I can just pack up and go to live abroad

[little_wolf]

Totally agree, its scary and they all seem so "happy" to be tied in.

Lets not even talk about when the market implodes in the next 12/24 months.

Oh, the humanity :)

[21_12_2012]

This is all fearmongering nonsense. Buy a home if that is your desire. If you prefer to rent, then rent. It seems that we see much more of this kind of self-congratulatory back-slapping amongst those who cannot afford to buy a home, whilst they sit back and pray for those with them to be "taught a lesson" for owning one.

I have never understood why certain people want to see others loose all they have to a banking system which they obviously oppose? It's quite sickening, to be frank.

I didn't mean to sound as if i was hoping for people to be 'taught a lesson' or anything. I do have respect for people who are paying mortgages, but it is something which i have chosen not to do, mainly because i have not been in a position to take out a mortgage myself, due to never feeling settled in relationships or where i have lived. If it has sounded that way to anyone on here, then i am sorry.
I do laugh when i think about mortgages because mainly i am laughing at myself in a number of ways, one way is to make myself feel better for not having a home to 'call my own', and in another way i'm laughing because i am not in debt. But i do not mean to laugh at the people who have mortgages. I respect their hard work and their persistence with the system and i hope it all pays off for them.
The prices these days are ridiculous and unfair, and considering that money doesn't even exist in 'real terms', i think these banks and building societies are total scum for charging hideous amounts of interest on money that doesn't even exist, and making good honest people work their balls off to pay back this non existant money, and if they don't pay it they have their house and everything else snatched off them by the very same people who lent them NOTHING but fresh air...it's evil.
Houses should be free to everyone if we lived in a decent world. People would help each other out, do each other services and everything would be provided for.. I have known this for years and that's another reason i didnt want to get involved in the mortgage 'game'
I do what feels right for me, and it just never has felt right.
But once again, if i have offended anyone who does have a mortgage, then i am sorry, i did not mean to..i respect people who can commit to it and 'take it in their stride'..

[i_am]

Well Andrew, I wonder if you would be able to track a specified amount deposited in a bank vault through the lending process to a vault in another bank and demonstrate for us that money lent as mortgages actually exists, as anything else than a fractional deposit provided by the borrower (I have to admit, that twist is a masterstroke)

Lets just extend the small possibility that you cannot ('cos that’s not how the system works: money comes into existance purely as credit, economic fact): can you explain why we should accept a system governing and restricting the potential of all our lives when it is so obviously and manifestly bollocks? I call the massive fear and stress of "losing ones job" and "not being able to pay the mortgage" fear mongering nonsense myself: and rightly so, when it visibly blights lives, for the convenience of maintaining the hegemony of those at the top

I call the massive fraud of a banking system based on usury and lending illusion quite sickening, to be frank

Yes it is a very clever game that the bankers play. They lend you nothing, just transfer figures around on a computer screen and you get to transfer figures on a screen to 'pay it back' after your employer transfers figures to you. Of course if you don't have the figures to 'pay back' the principal plus interest, they will come and take your very solid illusion away.

Also, see how much your ownership means if they discover oil on your bit of dirt or if they decide that is where the next freeway is going.

It matters not if you buy or rent, work or not, the trick is to never become too attached to things. It is the attachment which causes people so much stress when they lose something. Have whatever you want, but do not become attached to things and/or outcomes.

I have been in a position of losing everything material. Did it kill me? Hell no!

[jinjo5]

This is all fearmongering nonsense. Buy a home if that is your desire. If you prefer to rent, then rent. It seems that we see much more of this kind of self-congratulatory back-slapping amongst those who cannot afford to buy a home, whilst they sit back and pray for those with them to be "taught a lesson" for owning one.

I have never understood why certain people want to see others loose all they have to a banking system which they obviously oppose? It's quite sickening, to be frank.

There is no self-congratulatory back slapping on this particular thread,people are expressing thier opinion and experiences of this subject.All i was saying is that i would never get a mortgage no matter how well paid a job i might have.Surely the money could be used for something else,instead of tying yourself down with a massive debt.If people want to buy a house that is thier choice and i wish them all the best and i would not like to see anyone have their property taken off them,it must be heartbreaking when it does happen........by the way,you an estate agent,are you.?

[light worker]

This has been an interesting discussion and I have taken time to read the entirety of this thread. I fear this issue does tend to become yet another division amongst people as the discussion often turns into a clash of ideals regarding lifestyle decisions.

Essentially I think the bottom line when it comes to Mortgages is that it certainly is NOT a good idea to become a Mortgagor now or in the near future. Back in the 70s or pretty much anytime up until the mid 90s it was probably a justifiably sensible move - the prices were affordable and realistic. However in this world we now dwell taking out a Mortgage is simply foolhardy for anyone and particularly for those of us in the know. Society is becoming intolerable and to bind oneself to something like a Mortgage with all the threats that now loom over our horizon is really quite illogical.

A few legal points should be raised here. Ever since the Land Registration Act 2002 in the UK a Mortgagor (Buyer) has given the Mortgagee (The Bank) a Land Charge which essentially gives the Mortagee a legal interest in the property which won't terminate until the contractual date of redemption. I have seen people get totally screwed by the law in this respect. It needs to be understood that the rights of the Mortgagee are far more weighty and numerous than those of the Mortgagor when it comes to what happens when payments are not made.

Ask any half-competent propery lawyer in the UK and they will tell you that there is no mercy for the mortgagor when they default on payments. Dog eat Dog doesn't even do this justice. A creditor will take over your life and before you know it the property will be sold for security of the debt. Now in a world where a house or flat will cost, on average, about 200k I would say mortgages are undesirable. The world has gone mad, frankly.

I don't want to go on too much here but also of interest is the fact that in English Law no-one ever owns anything property related! Sure you may think you own that freehold you just completed mortgage payments for but in truth you are merely then "entitled" to an interest in that property. The Crown or Monarch owns all land and you enter into a relationship with the Monarch where you are given these rights. This is known as a tenure (from the latin, tenere, "To Hold"). There were once many forms of tenure agreement depending on, quite literally, how you were rated by the Crown. Nowadays a home owner is in what is known as a Free and Common Socage' with the Crown. Academics will have you believe this is of little to no relevance in the modern world but we all know that its stuff like this that represents the "apparatus of control" in the sense that in the next few years it is stuff like this that they might well use to burn us with. The blanket of control covers every aspect of our lives and ownership of property is not an exception. This is also the case in the US where essentially the Federal Gov owns all land (which in turn means the Monarch of Britain owns it under clauses agreed on in the 1810 war and never repealed).

The best option for a want-to-be home owner is to enter into what is known as a solus agreement. This is where you enter into a Mortgagor/Mortgagee relationship with a party other than a Bank. Clearly this only works if you have rich friends!

As far as I'm concerned every human being on Earth should be entitled to Living Space. This should be a human right. For reasons outlined succinctly by John White the fact the money lent never even exists in the first place except as credit on a screen just goes to show the true extent of how sick the whole system of Mortgage lending is.

[i_am]

Also, see how much your ownership means if they discover oil on your bit of dirt

There is a discussion on this subject here

http://answers.yahoo.com/question/index?qid=20070203134705AAQRE1m

[jinjo5]

This has been an interesting discussion and I have taken time to read the entirety of this thread. I fear this issue does tend to become yet another division amongst people as the discussion often turns into a clash of ideals regarding lifestyle decisions.

Essentially I think the bottom line when it comes to Mortgages is that it certainly is NOT a good idea to become a Mortgagor now or in the near future. Back in the 70s or pretty much anytime up until the mid 90s it was probably a justifiably sensible move - the prices were affordable and realistic. However in this world we now dwell taking out a Mortgage is simply foolhardy for anyone and particularly for those of us in the know. Society is becoming intolerable and to bind oneself to something like a Mortgage with all the threats that now loom over our horizon is really quite illogical.

A few legal points should be raised here. Ever since the Land Registration Act 2002 in the UK a Mortgagor (Buyer) has given the Mortgagee (The Bank) a Land Charge which essentially gives the Mortagee a legal interest in the property which won't terminate until the contractual date of redemption. I have seen people get totally screwed by the law in this respect. It needs to be understood that the rights of the Mortgagee are far more weighty and numerous than those of the Mortgagor when it comes to what happens when payments are not made.

Ask any half-competent propery lawyer in the UK and they will tell you that there is no mercy for the mortgagor when they default on payments. Dog eat Dog doesn't even do this justice. A creditor will take over your life and before you know it the property will be sold for security of the debt. Now in a world where a house or flat will cost, on average, about 200k I would say mortgages are undesirable. The world has gone mad, frankly.

I don't want to go on too much here but also of interest is the fact that in English Law no-one ever owns anything property related! Sure you may think you own that freehold you just completed mortgage payments for but in truth you are merely then "entitled" to an interest in that property. The Crown or Monarch owns all land and you enter into a relationship with the Monarch where you are given these rights. This is known as a tenure (from the latin, tenere, "To Hold"). There were once many forms of tenure agreement depending on, quite literally, how you were rated by the Crown. Nowadays a home owner is in what is known as a Free and Common Socage' with the Crown. Academics will have you believe this is of little to no relevance in the modern world but we all know that its stuff like this that represents the "apparatus of control" in the sense that in the next few years it is stuff like this that they might well use to burn us with. The blanket of control covers every aspect of our lives and ownership of property is not an exception. This is also the case in the US where essentially the Federal Gov owns all land (which in turn means the Monarch of Britain owns it under clauses agreed on in the 1810 war and never repealed).

The best option for a want-to-be home owner is to enter into what is known as a solus agreement. This is where you enter into a Mortgagor/Mortgagee relationship with a party other than a Bank. Clearly this only works if you have rich friends!

As far as I'm concerned every human being on Earth should be entitled to Living Space. This should be a human right. For reasons outlined succinctly by John White the fact the money lent never even exists in the first place except as credit on a screen just goes to show the true extent of how sick the whole system of Mortgage lending is.
There's more pitfalls with this house-buying lark than i ever thought:confused: .....glad i never considered getting a mortgage.:p

[i am all i am]

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