Should missed mortgage payments be a criminal offence?

Should missed mortgage payments be a criminal offence?

13:11 PM, 6th September 2012, About 12 years ago 34

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The Banker is back, this time he’s trying to upset by hoisting us by our own petard – he’s asking the question “should missed mortgage payments be a criminal offence.”

Is his last anonymous correspondence with Property118 readers The Banker caught our attention with the title “The Property Boom of 2012” and then went on to tell us all why we are doomed. His message this time around is no more friendly either. However, I’ve published his ramblings yet again as some might feel there are some pertinent homes truths in his arrogant musings! We can also say pretty much whatever we like to an anonymous banker as he can’t possibly take legal action for defamation as he is anonymous LOL.

The Bankers says:-

“The naivety of some landlords astounds me, I read your comments for amusement, sometimes the comments posted on your Property118 website are so childish they ought to be published as a comic.

Why on earth should missed rent payment be a criminal offence?

Why should landlords be able to bypass the court systems to repossess somebody’s home just because they have missed a few rent payments?

These are YOUR readers desires – not mine!

I intend to demonstrate to you how pathetic your arguments and justification are by presenting the flip side of the argument.

For all you landlords borrowing money, stretching your finances too far and crying out for the rules to be changed just think about this ….

Who is taking the the lions share of the risk?

YES! It’s the bank isn’t it?

And yet you landlords get to keep any rental profits and you also get to keep 100% of the capital appreciation.

I’d say that’s unfair, and there’s enough there to convince me that providing mortgages to landlords is a terrible investment.

However, if you want your rules to be put in place, consider what mine would be.

  1. If you miss a months mortgage payment I warn you. fair enough, you may have changed banks or something, fair enough, catch up or else Imight want to charge you for further correspondence. I certainly think I deserve the right to do so.
  2. Miss a second months payment and I immediately want possession of the property and the right to instruct an LPA receiver to collect the rent without having to go through the Courts. I will then decide whether I sell the property to recover my losses and I think as I put up the lions share of the money I should be able to do this however I may choose, completely free of any interference from regulators or the Court system.
  3. If there is a shortfall I want a change in the law so that I can have you immediately arrested for breach of our agreement. Squatters now get a fine of up to £5,000 and 6 months in prison so I reckon that if that’s fair to them then it should be fair for me to prosecute you on the same basis.
If you don’t have the capital adeqecy to run your business that’s tough, you shouldn’t be in business. If you don’t pay your mortgages on time that should be a criminal offence.

That’s what landlords seem to be saying would be a fair set of rules for tenants to play by so I think banks should also be allowed to play by those rules.


And for any of you who have missed two or more mortgage payments, “Go To Jail, DO NOT pass Go and DO NOT collect £200

The Banker”

PS – my proposed rules are for landlords only – not for homeowners

PPS – As I said in my last article, I’ll be there ready to buy your properties for 50% of what you think they are worth, just you wait and see HAHAHA

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20:35 PM, 9th September 2012, About 12 years ago

I agree cosmo with what you are after.
However I think it is an oft quoted truism that some of us are in a position of being more equal than others!!
I know when I am up against a tenant I feel I am at the bottom of a 45 degree playing field!!!
This situation is unlikely to ever change.
I bet Shelter think the same as you but they think the other way round that everything is in favour of the LL.
How such a major organisation can be so deluded and continually spout the propaganda that this is the case is disgraceful
They even have charitable status I think.
I think a little bit of honesty as to the true nature of affairs is called for.
Then perhaps the powers that be might actually be able to see the reality on the ground that affects LL.
I reckon if you posed the circumstances of what you have been stating to the new housing minister, he would not have a clue what you are talking about.
And these are the people that make executive decisions as to the way due process is and will be carried out and yet being in total ignorance as to what is going on at the frontline.
A bit First World War, Lions led by donkeys.
Trouble is the Lions are being denied the due processes to win the War.
We don't need an armistice, we need unconditional surrender!
Then we can be confident in supply of our service never again to be subject to guerrilla activity of any sort ever again.
Presently the Lions are actually in a zoo where we remain as toothless beats, constrained from looking after our own interests and thrown scraps to keep us vaguely satisfied!!!
This situation will not change.
We are deluding ourselves if we thing it will.
There is just not the motivation on the part of other parties apart from us LL to do anything about the unfair situation we LL face on a daily basis.

22:42 PM, 9th September 2012, About 12 years ago

Paul, we are a £680Billion industry. we turn over £3Billion every month.£36B pa
that is a very big slice of the economy. ( conservative estimates )

this gives us weight. gives us mass. this is what we fight with.
our fear of legislation and public opinion keeps us fragmented.

we are lions without any roar because we allow it.

as for the " more equal that others "..... we are all equal it is up to us how much abuse we are prepared to take which makes us less equal.

lets start a fund. there is 2 million LLs. lets see if we can collect £20 from each one as a fighting fund to lobby government.

not all will pay up but we would only need about £10M. that's 500,000 landlords.

Mark can look after the fund and report weekly on it's progress, list how many contributed.

LLs could contribute as much as they wish/afford/based on turnover. min, £20

I will start with £200. just set up the account Mark and i'll post you a cheque.

the first step starts here.

Mark Alexander - Founder of Property118

0:50 AM, 10th September 2012, About 12 years ago

Hi Cosmo, I'm flattered but I'm not sure politics is the where I see myself. I'll give this some thought.

8:09 AM, 10th September 2012, About 12 years ago

id be happy to sign up to these rules if they applied to the tennent aswell, whats good for the goose...

10:18 AM, 10th September 2012, About 12 years ago

I still think he's an arrogant tosser

is that not a medical condition ?

12:27 PM, 10th September 2012, About 12 years ago

Well we already have suposed representative LL organisations like the NLA and RLA.
I think there should be 1 LL organisation only that represents ALL LL. commercial and residential.
I just don't think LL are prepared to stick their heads above the parapet, so to speak.
You are absolutely correct about the contrinbution that the PRS makes toward the economy.
Govt however refuses to accept that what we do is run businesses and refuse to treat us regarding tax as a business.
As it stands at the moment we are considered by them to be just a giant cottage industry.
We should be able to be members of the FSB but we cannot do so as we are not considered to be businesses!
Until that occurs we will never get the govt ear.
Politically it would not do a govt of any colour any favours whatsoever if legislation was managed to effectively give private LL complete control over who stayed in his property and how long they could stay there if they paid no money for the service.
I see nothing wrong in a LL being able to control who has access to his services, like any other small business and how long they may remain without paying for the service.
I think that for the govt to ever consider us LL with our demands to be allowed to be in control of our assets to be a rather large electoral elephant in the room.
Even a right -wing Tory govt; if it EVER happens!! will NEVER give private LL the ability to gain immediate repossesion of their business asset if they are not paid for as part of a contractual arrangement.
There appears to be something ingrained in society that although stealing is generally frowned on; it is OK to steal the value of accommodation from a LL.
Essentially legalised theft!
I also believe that society considers that by being a LL you have resources sufficient to cover for losses of rent and if you suffer as a result then tough
No other business is thought of in that light.
Indeed govt has made efforts to ensure that small business is paid what is owed to them..
Other small businesses don't seem to suffer this prejudice.
Indeed you more about the govt banging on about promoting small businesses as the engine of growth and employment and wanting to do everything to assist!?
Why should a LL be left out of this equation.
After all LL purchase property, refurb it and rent out to a willing tenant.
If furnished they make relevant purchases.
Plus there are all the other associated services that LL need to pay for to establish their property business, as that is what it is.
As you so correctly state we as businesses contribute massively towards the general economy.
ALL we are asking is to have complete control as to how we run our business.
The LAW presently does not allow us to control our business 100%, this is truly bizarre.
I cannot think of any other business which is forced by law to provide a business service for FREE until the user of the service can be removed and that it could have a sufficient detrimental effect to bankrupt the business and it's owner!!
I just don't get it!!

17:45 PM, 10th September 2012, About 12 years ago

paul, please just read your last entry.
"There appears to be something ingrained in society that although stealing is generally frowned on; it is OK to steal the value of accommodation from a LL.
Essentially legalised theft!"

"The LAW presently does not allow us to control our business "

"I cannot think of any other business which is forced by law to provide a business service for FREE until the user of the service can be removed"

"Why should a LL be left out of this equation. "

4 very valid reasons why from your own mind.

you have just argued for trying to be heard.

any government ear is normally bought. hence the fund.
nobody listens unless it pays them to listen. they may not do anything but unless you will never know.

we have to change public perception of what we do and how important it is to their world.

comprende ?

18:51 PM, 10th September 2012, About 12 years ago

I do get it but I suppose I am of little hope.
You appear to be made of stronger stuff than me.
I just think that we would be banging our heads against a brick wall.
I know nothing ventured, nothing gained and all that but I cannot see any political party espousing more control for a LL of his business.
There would be just no support amongst the general population for such assistance to LL.
I think the recent change that happened to the squatting law only was introduced because of the effect on residential occupiers.
I think if the law change benefited only LL I don't believe there would have been the same political populism to change the law, as eventually happened.
I think the LL diaspora is far too fragmented to come together with a collective voice to have even a small piece of legislation to allow a LL to control his business amended.
I actually do think that there needs to be a new Housing Act to address the various issues that have arisen since the last act and things have changed drastically in the housing market that I think new aproaches are needed.
It won't happen in this parliament but possibly lobbying for the next parliament might work.
I don't have the time or even the will to bother; I have other things to concern myself with.
But I could see myself supporting somebody else and even in a financial sense.
I suppose I am just resigned to the status quo and do my bst to mange accordingly.
I know this is a bit weak-willed but presently I have other things which deserve my attention more.
I think this is the case with most LL and we know that introduction of law changes is like controlling an oil tanker; they take ages to change course and even stop.
For me life is too short, so I am resigned to the situation, not particualrly helped I know by my complacency.
As you suggest a LL contributes substantially to the UK economy; why doesn't the govt recognise this and give us our just due of being able to control our business!!?

22:04 PM, 10th September 2012, About 12 years ago

support is all that's needed. you have sold it to yourself. now let me sell it to others and if tell all the other LLs you know to get in touch with me......

an oil tanker takes less time to alter course than public opinion.

and you are absolutely right, we do need a new approach to housing.
it is after all, the stainless steel bolts that holds our economy together.

just look at what our government is doing with the benefits system.
not exactly popular is it.
with housing benefits.....again not popular.
NHS.....not popular, armed forces. what have I missed out ?

they seem good at "not popular"

23:08 PM, 10th September 2012, About 12 years ago

I don't expect you to ride the horse, just feed it. if you want to ride it....that's good too.

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