If the above was my home (which it is not), I could be forced to provide detailed information about the amount of money I spend on alcohol and tobacco when I have to remortgage.
According to the Times spending on shoes, clothes and childcare could also be assessed under a new, industry-wide "affordability test". Self-certification mortgages are also at risk of being banned (yes that word again), making it more impossible for those who are self-employed to own their own home. It's never been easy for the self-employed with their irregular incomes to acquire mortgages and they've usually had to pay a higher rate of interest, but now that dreadfully incompetent government agency, the FSA has decided lenders need to be far more rigorous about their financial checks of potential borrowers.
We all know the 'toxic debt' in which banks became involved wasn't all UK based debt - the majority of it was banks buying it from the US thinking they would make a killing, plus the greed of lending to those who very obviously would not be able to keep up payments.
There is a far more serious issue here though. This intrusion on our lives just has to be stopped. How much longer are we going to permit this government to pry into our very private affairs?
This won't stop with mortgage applications, believe me. It will filter down to any applications to government departments. I can see the day when, if you want to start a business and require a loan, your lifestyle will be probed by these faceless suits and one of them will hold your future in their hands. They won't stop at just alcohol and tobacco either. That's just the beginning of this latest social engineering policy.
Why are we just giving away our rights to this degree? Surely there are politicians who will stand up and speak for our freedoms? There will be those who say if you live a good lifestyle you have nothing to worry about - that's not the point. The point is that my life is mine - it doesn't belong to anyone else and how I choose to live it is my decision. There used to be sensible punishments for irresponsibility but no longer.
For the past 25 years or so various governments have broken up our society which used to have moral values and trust. Is it any wonder trust no longer exists in today's society?
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15 comments:
Excellent post Subrosa.
You really couldn't make these people up. They sat there and watched while banks lent money to anyone who turned up at their offices. They did nothing. Banks, including my own, were begging people to take out loans and credit cards, sometimes they were begging people who could ill afford it. Credit card companies were at the airports handing out credit cards applications and getting them activated just as people were heading off on holiday. This would be the holiday of their lives, with an extra £1000 in their pockets. Plenty of misery to follow.
People were given credit to buy stupid amounts of Christmas presents, when they were still paying off last year's binge. And for those who owe large amounts, some of the cards have increased their annual interest rate to as much as 40%!
Then they got burned, and now you're going to have to lay bare every little detail of your life to get a mortgage.....the thing we were told was essential only a couple of years ago.
That doesn't fit too well with the fact there is not much in the way of housing to rent!
The country is falling down around our ears. If it can go wrong it has or it will.
Brown's and Blair's fault. Know-all stupid chumps!
Nice, SR, Nice.
Unfortunately, I cannot see things changing, even with bluelabour.
I have often wondered what the 'pulling power' of the SNP was - I think I am about to find out come the GE!
I think the SNP's pulling power is they offer something different WfW. They stick to the courage of their convictions and respect the great work done by their successors. To undo that would be the beginning of their downfall and I'm quite sure their membership would pull them up sharply.
So many other parties disregard their history. Look at the mess labour is in right now and the country.
Just lie? I do...
Tris, it was a post written in haste earlier today and I thought I would cool down before publishing it. I haven't so, although not well written, it was what I thought after reading the article.
Agreed SR. By my original comment I meant by 'pulling power' the desertion of Labour and Conservative voters to the SNP. Didn't phrase it very well!
I was not suggesting the SNP undid anything!
SR another attack on the private good. There will soon be nothing left to aspire to. Anyone that has anything will have it sequestered. The internationalist hive mind will denude all our rights.
I heard a green chump trying to mask, but failing on London LBC radio today, that he loves China's one child policy. MMmmmmm.. totalitarian criminal gangster state, a roll model for UK plc. Even the battiest of my Mod Studs teachers would have shied off that one!
Hi SR.
And the two "B's", whose favorite saying is; "lessons will be learnt!!"
It's time the sheeple learnt a few lessons, like who is suitable to run the country? Answer. None of this lot. Take a good look at them and DONT get skinned again, learn your enemy for what s/he is,and is not.What to do?? Understand that democracy can be likened to two wolves and a sheep deciding what is for lunch. Freedom is a very well armed sheep. Learn to recognise a wolf,and remember some of them have good colouration and can tell a good story (lies ).
Democracy is a form of mob rule,remember that there is more of you than them, THEY know this and work very hard to make sure you dont. Just look at the mess in Westminster at the moment, they think they can still get away with
the thieving,its up to you to make sure they dont, ever again!!
Remember the difference between a symbiote and a parasite, a parasite kills. What's in Westminster???Think about it, next time you vote!!
D.
That's fine until you see a wee bloke standing behind you in the queue at Sainsbury's Polaris, photographing your bottle of Merlot. :)
SR
Agree totally with what you say,but it puzzles me that banks are making big profits and paying huge bonuses, again.Considering the amount of money that dissapeared and what the banks are to repay of the amounts they got of our (taxpayers) money, why is there any cash left for profits,surely after operating expenses this should be paying down debt? And credit cards interest rates are above 16%.Looked at your savings interest recently?
bet its well under 5% Mugged again.
But will it be all change again when the new sensible rules hit the bankers bonuses..?
"Interesting" Times.
D.
Funnily enough Apogee, I was talking to one of my nearest and dearest tonight about savings interest. What I got this year wouldn't pay to have my hair highlighted - I couldn't believe it.
The bankers will continue as they are unless we break them up and go back to 'proper' banking practices. That won't happen because the few are making too many billions out of us.
The International Bankers are making huge profits because there is less competition, simple.
It took a DJ on BBC Radio 2 to point out that the Govt. failed to bite the bullet and rule that 3.5 X income would be the max possible. Yes, this would lead to a paper loss of cash to home owners but would bring house prices down to a level that would match 3.5 X average income thus enabling more people to own their own home and less profit to the banks who are entirely responsible for the housing boom in the first place.
As for those wishing to snoop on your lifestyle, pay cash for everything and shred your loyalty cards.
The problem of course is with self-employed folks banned, they always get a rough deal.
Cash is the answer and now I'm going to get rid of my Tesco card. Not that they give me enough to buy a decent bottle of wine anyway.
Thanks for the advice.
Subrosa..
I think now that the Gov owns or has shares in the banks they can now dictate to them what they want done.
I agree that responsible lending has to be brought in and the self cert mortgages are a start but a 100% ban on them is wrong.
If someone can prove via vat receipts that they own a business than that is good enough.
The means testing for a mortgage will be like being booked into prison and they will want to know everything about you.
First time buyers are going to find it difficult to get on the property ladder yet they are the life blood of the housing market.
More people will turn to unregulated people for loans and mortgages if they can not get the finance.
Your right btw, most of the debt in the UK is unlike the debt in the US where it was the sub prime housing thing that smashed the greedy banks.
Spook, many small businesses aren't VAT registered so they will have to produce certified accounts.
I know many small business folk who are successful but do their own book-keeping.
This is just more money for accountant companies. Ooops ;)
And yes, first time buyers will be hit too. As Polaris said, just lie lol. Then the unemployed will be given jobs to spy on applicants.
You can see where this is going can't you?
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