Homeowners facing two billion pound "lock-in

  whatustaring@ 01:14 14 Apr 2007
Locked

wow if you own your home this is going to hurt..!!..our goverment AGAIN eh
click here

  Kate B 01:17 14 Apr 2007

That's nothing to do with the government - read the story properly. It's just a survey of the fees mortgage lenders charge if you redeem your mortgage early. Not new, not surprising. The FSA is cracking down on it, which is good for consumers. I don't understand what you're objecting to.

  namtas 09:13 14 Apr 2007

Kate B More care needed - On many occasions you make a special case of being wounded to the extreme by comments that you see as rude towards you and which most of us would shrug off as forum cut and thrust. Apparently however you don't see the same self control criteria applying to yourself in this typical rude reply. I think that sometimes you should perhaps think of the effect before you write.

  GANDALF <|:-)> 09:36 14 Apr 2007

Not wishing to tear the headmaster attitude out of you but KateB was spot on The story has naff all to do with the Government and as the average fee is £187, this is not something that will *hurt* . Informing someone that they are totally wrong is not being rude, just realistic and practical.

G

  leo49 09:39 14 Apr 2007

And perhaps you should just think before you write.There's nothing remotely objectionable in that post.

At least find some credible pretext upon which to exercise your grudge.

  Forum Editor 09:47 14 Apr 2007

Please engage with the subject, rather than launching a gratuitous attack on someone who was quite rightly pointing out that the thread originator has got it completely wrong.

He/she was advised to "read the story properly", and there's nothing remotely rude in that - the originator obviously hadn't read it properly.

As for "I think that sometimes you should perhaps think of the effect before you write."

Quite.

  anskyber 10:17 14 Apr 2007

I'm pleased, I think.

To be honest the various "lock ins" are well publicised and anyone who buys a house without being aware of the dangers must be very foolish indeed.

The reality is similar to banking fees, the lenders are out to maximise profits for shareholders so if lock in fees disappeared or were reduced then small increases in lending interest rates would replace them.

When I moved house a year ago I was faced with the same choice that most face, a lower interest payment per month with a lock in or a slightly higher one without. I appreciated the choice and like many I am quite capable of reaching my own decision. So whilst I agree with curbing excessive lock ins I should hate to see them disappear.

  Kate B 11:21 14 Apr 2007

I certainly wasn't out to offend, merely pointing out that the OP had missed the point of the story.

The FSA probe is a good thing, but, as anskyber notes, anyone taking on any financial commitment has to read the small print carefully.

  whatustaring@ 11:48 14 Apr 2007

oh dear yep i got the story wrong..doh,i DID missread it & i think that was due to tiredness "Sat,[email protected]:14" just a slight misstake eh but no need to "Shoot" me down KAteb" please we all get things wrong

  Kate B 11:54 14 Apr 2007

I wasn't shooting you down - just pointing out that you'd misread it. Don't be too oversensitive!

  White_Elephant 13:18 14 Apr 2007

I would agree that the orginal poster hasn't fully scrutinized the whole article but I must say the headeline on that article is extremely misleading.

It does make it sound like it's some new development when actually it's something that has been around for ages, which the FSA is trying to tackle.
Typical piece of headline grabbing journalism, luckily PCA doesn't use this method.

This thread is now locked and can not be replied to.

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