wolfie Posted May 6, 2013 Report Share Posted May 6, 2013 I'm trying to say just the opposite. That anyone should be able to take out a loan or buy a house (even when they have a snowballs chance of paying it back), but circumstances may change, for whatever reason, that may mean they no longer have a snowballs chance of paying it back. Not sure if many people take on a loan or mortgage knowing full well that they will never pay it off (could be wrong) One always lives in hope that after the first few years, repayments become easier, a little like the 'reverse snowball effect'. Quote Link to comment Share on other sites More sharing options...
observer Posted May 6, 2013 Report Share Posted May 6, 2013 There was a time when you could take out a 25yr mortgage, with a reasonable expectation that you would remain in the same job in order to pay it back. Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted May 6, 2013 Report Share Posted May 6, 2013 I'm trying to say just the opposite. That anyone should be able to take out a loan or buy a house (even when they have a snowballs chance of paying it back), but circumstances may change, for whatever reason, that may mean they no longer have a snowballs chance of paying it back. Not sure if many people take on a loan or mortgage knowing full well that they will never pay it off (could be wrong) One always lives in hope that after the first few years, repayments become easier, a little like the 'reverse snowball effect'. Yep There was a time when you could take out a 25yr mortgage, with a reasonable expectation that you would remain in the same job in order to pay it back. Yep Quote Link to comment Share on other sites More sharing options...
asperity Posted May 6, 2013 Report Share Posted May 6, 2013 Why would you have to stay in the same job to pay it back? Don't people these days try to stay in employment and, heaven forfend, even improve their income by getting promotion/changing to a better paid employment? Quote Link to comment Share on other sites More sharing options...
Robbo Posted May 6, 2013 Report Share Posted May 6, 2013 Why would you have to stay in the same job to pay it back? Eh, you wouldn't. Obs was saying ''There was a time" and your saying " these days" times change. Quote Link to comment Share on other sites More sharing options...
asperity Posted May 6, 2013 Report Share Posted May 6, 2013 There was a time when you could take out a 25yr mortgage, with a reasonable expectation that you would remain in the same job in order to pay it back. This is what Obs said - "you would remain in the same job in order to pay it back". And aren't we talking about loans taken out these days? Seems to me that perhaps some people have been living in hope of something turning up before the dread day of reckoning. Quote Link to comment Share on other sites More sharing options...
Davy51 Posted May 6, 2013 Author Report Share Posted May 6, 2013 I doubt if anyone would have the "luxury" of staying in the same job for anything approaching that in this day & age. Quote Link to comment Share on other sites More sharing options...
wolfie Posted May 6, 2013 Report Share Posted May 6, 2013 Most councillors and many mp's do. Quote Link to comment Share on other sites More sharing options...
observer Posted May 6, 2013 Report Share Posted May 6, 2013 Asp, a job for life is a rare item nowadays; job insecurity doesn't bode well for loan repayment. Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted May 6, 2013 Report Share Posted May 6, 2013 Asp, a job for life is a rare item nowadays; job insecurity doesn't bode well for loan repayment. Yep Quote Link to comment Share on other sites More sharing options...
asperity Posted May 8, 2013 Report Share Posted May 8, 2013 All the more reason why people shouldn't take out long term loans without taking measures to insure themselves against redundancy, illness etc. I was first made redundant in 1981 a mere 2 years into my first mortgage so it isn't a new phenomenon by any means. Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted May 9, 2013 Report Share Posted May 9, 2013 More jobs about in 1981 Quote Link to comment Share on other sites More sharing options...
asperity Posted May 9, 2013 Report Share Posted May 9, 2013 Not in the Merchant Navy Lt Kije! The British MN all but disappeared at that time, but seamen are tough enough to face facts and find another employer. Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted May 9, 2013 Report Share Posted May 9, 2013 So you joined somebody else's Merchant navy Quote Link to comment Share on other sites More sharing options...
asperity Posted May 9, 2013 Report Share Posted May 9, 2013 Do you even know what that means Lt Kije? Were you even out of school in 1981? 1981 unemployment was over 2.5 million rising to over 3 million the following year. So were there really "more jobs in 1981"? Quote Link to comment Share on other sites More sharing options...
Bazj Posted May 9, 2013 Report Share Posted May 9, 2013 I left school in 1980 and had 3 jobs and then a couple more the following year before I ended up as a sparky!!jobs were around but there were less foreigners to compete with Quote Link to comment Share on other sites More sharing options...
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