I really don’t understand the thinking behind this news report
which honestly suggests that councils should be bailing out homeowners who are struggling with their mortgages. What it doesn’t seem to explain is why everyone, including the unemployed, the disabled, children and the elderly, should be supporting mortgage-holders. In a distressing number of cases financial hardship has been caused by nothing more than wanting it all without having the means to pay for it- has anyone ever considered just living the life they can afford rather than the one that they think they deserve? The money would be available at below market rates from the treasury but if, or rather, when those with the financial sense of a 4 year old lottery winner continue to overspend and default on the cheap mortgage they got from the council, who will be responsible for paying it back?
I realise that mortgage problems are causing a lot of people genuine problems and, in many cases, this is through no fault of their own. But if your local council starts offering cheap mortgages do you think they will be in the front of the queue?
No Comments so far ↓
Like the collective mind of the Daily Mail, comments are closed.