Property unrest from the younger generation

[David G]

Papaumau.The best way to stop the gullible or vulnerable from taking out a mortgage is to do what I had to do to get my mortgage, save for the deposit (10%) for two years with the lender you hope to get the mortgage from, then they can see that you are capable of Allocating money on a regular basis.

[Dottie1943]

DavidG

Like yourself Roy and I saved our deposit to get our 90% mortgage and it was hard work I have to say as we were like many others renting at the time, we never went out with our friends to the pub every weekend and we scrimped and saved, no new clothes every week like I used to have, Roy sold his old car and we made do with the buses and trains or the family driving us, sometimes we even used the Laundry Van which Roy drove for a living, but in eighteen months we had our deposit and do you know what we were happy!

I sometimes think that the younger generation want it all but are not prepared to give up things to get where they want to be, yet after saying that my great nephew who is at Uni works whenever he comes home for holidays, yes he is lucky to be able to work, but Tesco's don't just give anybody a job so he must be a good worker!

[Papaumau]

I totally agree with both of you as, while I am against 100% mortgages, for obvious reasons, I do think that even the young should be made to make a committment before taking on a mortgage for up to 35 years or more. The saving for a decent and fair deposit is a good way to find out if these youngsters are willing to make that kind of a committment over the long term.

All that agreed and aside I STILL feel that the crazy lenders in the sub-prime debachle have to carry their share for this syndrome existing in the first place.

These fools brought most of the banks to their knees but many of them are still in post deciding whether the poorer folk are going to get a loan or not. All that has changed is that they have been told in no uncertain terms that they must now not give loans to people who might default in the future. ( That has to be the most arbitrary decision that could be made ).