Don't have enough debt in your life? have some more you can't pay

[GastonJ]

The chancellor says the second stage of the Help to Buy scheme, aimed at enabling more people to buy properties, will be closed to second home buyers.
George Osborne has called housebuilders and mortgage lenders to a meeting to discuss the details.
The first phase of the scheme was launched four months ago and provides equity loans for buyers of new homes.
From January next year, it will be extended to help buyers of existing homes.


It will allow people to buy with just a 5% deposit.
The government will guarantee a proportion of the loan to give the banks greater confidence to lend.

BBC News - Help to Buy not for second homes, says George Osborne

Banks lending money to people to buy property they cannot afford - does this not sound familiar to anyone, or was the lead up to the crisis in 2008 all a dream and it's groundhog day today maybe? So only save 5%, the banks will be told to lend to you because the government (instead of government you could write stupid taxpayers) will underwrite the a large amount of the rest in case the 'buyers' can't afford to pay, however I'm sure they'll gain if house prices shoot up. "Heads I win tails you lose suckers!!!" springs to mind. Does George own shares in debt recovery companies or has he placed a large bet with William Hills that he can give the banks more bad debt that no-one will repay and ck the world up?

[Meat-Head]

What a cock, cuts here, dvla shutting office, govment department of hot custard closing offices, to make up for it the knob buggeres it all up

now if it was gov give 5% to finish morgage for dk members with minimum 1000 posts then fine

[GastonJ]

and now the good old CoE is also after your debt as well, albeit with a good cause - taking business from Wonga

The Archbishop of Canterbury has warned the on-line lender Wonga that low-cost credit unions could force it out of business.
The Most Rev Justin Welby told the company that the Church of England wants to "compete it" out of existence.

BBC News - Archbishop warns Wonga it could be run out of business

Interest rate will be lower, but they'll take your soul as collateral instead

Meanwhile the government would also like some more Wonga (taxpayers don't pay enough)

In April 2013 the government announced an investment of ?38m in credit unions, to help them offer an alternative to pay-day lenders.

and there was me thinking that the current government didn't get on with unions They prefer to help banks get more people into debt that they can't pay....

[Meat-Head]

Did read in paper some vicar handed out ?10 or ?20 to his punters, told them to FRO and return with more money

garden fetes, raffels etc etc all gave vicar morr money gack

[GastonJ]

Aye the churches aren't above making money either........

[Meat-Head]

Weird vicar one day a week job, but susspose its because double time

[Snowy79]

Nice to see the church doesn't have a real clue about the type of people out there. Wonga etc charge a fortune in interest as they know that a lot of their punters won't pay the money back. They work on the principle that the added interest will more than make up any short fall. If the Church are stupid enough to lend money to anyone it won't be long before they go bust. Mind you at least they'll forgive them.

[GastonJ]

Nice to see the church doesn't have a real clue about the type of people out there. Wonga etc charge a fortune in interest as they know that a lot of their punters won't pay the money back. They work on the principle that the added interest will more than make up any short fall. If the Church are stupid enough to lend money to anyone it won't be long before they go bust. Mind you at least they'll forgive them.

or they'll hold their children as collateral *shrug*

[Snowy79]

They could always give the poor money for sex, just give less if the kids actually want it.

or they'll hold their children as collateral *shrug*

[GastonJ]

The church already lend money.. through Wonga

But the Church later said it invested in funds that provide money for Wonga.
Lambeth Palace said an independent inquiry would be launched in to how "this serious inconsistency" occurred.
Payday firms offer short-term loans, often at high interest rates, and have been accused of leading people into more debt.
BBC religious affairs correspondent Robert Pigott said the Church's investment was said to be at arm's length by "several layers".
A Lambeth Palace spokesperson said in a statement the Church was grateful to the Financial Times newspaper for "pointing out this serious inconsistency of which we were unaware".
It said the Church would be asking the Assets Committee of the Church Commissioners, a statutory body independent from the Church, "to investigate how this has occurred and to review the holding in this pooled investment vehicle".
"We will also be requesting the Church Commissioners to investigate whether there are any other inconsistencies as normally all investment policies are reviewed by the [Church's] ethical investment advisory group."

BBC News - Archbishop of Canterbury 'furious over' Church investment in Wonga

[Meat-Head]

Would you just love to get user name of owner of wonga.com and order a large loan fir them

[GastonJ]

Looks like god probably owns a majority share in them