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Credit crunch hits more wealthy
3:26pm Thursday 22nd May 2008
Comments (30)More householders and tenants from affluent areas of the district face losing their homes because they cannot afford to pay the mortgage or rent.
A Bradford and Keighley legal advice charity is seeing a dramatic rise in the number of people facing repossession and eviction, including more from affluent areas such as Skipton and North Yorkshire.
Sikander Hussain, who runs Key House, a housing charity based in North Street, Keighley, said the number of cases had risen by more than 25 per cent so far this year and could double by the end of 2008 as the credit crunch continued to bite.
The big rise in demand for Key House's support is stretching its resources The charity usually handles about 100 cases a year in the Keighley area but Mr Hussain expects this to at least double by the end of the year. Across North Yorkshire he expected the annual caseload of 500 to also rise sharply.
Key House provides free legal advice to people attending court for repossession or eviction hearings. It represents householders and tenants in court and also tries to stave off repossession by advising them on reaching an arrangement with their lender or landlord.
Mr Hussain said: "Our duty advice schemes at North and West Yorkshire county courts have advisers on hand who can assist and if needed go into the court with anyone facing loss of their home."
He said many people struggling to pay mortgages or rent did not acknowledge that they had a serious problem.
He said: "People get into difficulty for all sorts of reasons, however there is a growing trend of those who have re-mortgaged as property values increased. These people now find themselves in difficulty and are faced with the loss of their home.
"The credit crunch is not just affecting people on low incomes but also those in more affluent areas.
"We are seeing more people seeking help from such areas.
"One couple had an original loan of £15,000 which was almost paid off when they took out a further loan of £70,000. They now have debts of more than £100,000, which they cannot repay."
Key House recently merged with HARP, a North Yorkshire-based housing support organisation, and now takes on cases from as far afield as York and Scarborough, The combined charity provides advice in an area including five county courts.
Key House has extended its housing service to include debt and welfare benefits advice and can be contacted on (01535) 211311.
Tanya Jackson, spokesman for Bradford-based Yorkshire Building Society, said the lender had seen a small rise in mortgage arrears this year.
She advised anyone facing repayment problem to contact their lender as soon as possible.
YBS is writing to borrowers whose fixed-rate mortgages are due to end in the next 12 months to help them prepare for a jump in monthly payments.
The society is also guaranteeing existing borrowers coming off fixed-rate new mortgage deals to help smooth the transition from lower payments.
Your Say YourBradford Telegraph and Argus
albion, west riding says...
3:41pm Thu 22 May 08
albion, west riding says...
3:41pm Thu 22 May 08
House Price Crash, Bradford says...
7:36pm Thu 22 May 08
Things can only get better!!!!
This is a real blessing for young people, our future is looking so bright, we can rejoice - the news just gets better and better.
By the way, Bradford and Bingley shares are now at 101.5 p per share, they were at 447 only 12 months ago, this works out at a 77% crash. There are major house builder in this country whose shares have crashed 80% in one year.
Oh my, this is so amazing I just cant believe how good things are getting.
Anyway, got to go now, I am off to the supermarket to stock up on rice and tinned food, it might come in handy, then I am off to Bradford and Bingley to withdraw some of my savings, well I cant trust them to look after my money, they have lent it out to property gambling muppets.
House Price Crash, Bradford says...
7:36pm Thu 22 May 08
Things can only get better!!!!
This is a real blessing for young people, our future is looking so bright, we can rejoice - the news just gets better and better.
By the way, Bradford and Bingley shares are now at 101.5 p per share, they were at 447 only 12 months ago, this works out at a 77% crash. There are major house builder in this country whose shares have crashed 80% in one year.
Oh my, this is so amazing I just cant believe how good things are getting.
Anyway, got to go now, I am off to the supermarket to stock up on rice and tinned food, it might come in handy, then I am off to Bradford and Bingley to withdraw some of my savings, well I cant trust them to look after my money, they have lent it out to property gambling muppets.
House Price Crash, Bradford says...
7:36pm Thu 22 May 08
Things can only get better!!!!
This is a real blessing for young people, our future is looking so bright, we can rejoice - the news just gets better and better.
By the way, Bradford and Bingley shares are now at 101.5 p per share, they were at 447 only 12 months ago, this works out at a 77% crash. There are major house builder in this country whose shares have crashed 80% in one year.
Oh my, this is so amazing I just cant believe how good things are getting.
Anyway, got to go now, I am off to the supermarket to stock up on rice and tinned food, it might come in handy, then I am off to Bradford and Bingley to withdraw some of my savings, well I cant trust them to look after my money, they have lent it out to property gambling muppets.
true, bradford says...
7:37pm Thu 22 May 08
and all the fat cat live in luxury....
funny isnt it that bills and food prices are rising and the wage is staying put...huh to life
true, bradford says...
7:37pm Thu 22 May 08
and all the fat cat live in luxury....
funny isnt it that bills and food prices are rising and the wage is staying put...huh to life
true, bradford says...
7:37pm Thu 22 May 08
and all the fat cat live in luxury....
funny isnt it that bills and food prices are rising and the wage is staying put...huh to life
chris, BRADFORD says...
8:34pm Thu 22 May 08
When money goes out off the door love goes out of the window
chris, BRADFORD says...
8:34pm Thu 22 May 08
When money goes out off the door love goes out of the window
chris, BRADFORD says...
8:34pm Thu 22 May 08
When money goes out off the door love goes out of the window
albion, west riding says...
9:17pm Thu 22 May 08
chris wrote:Very profound.
People in Bradford jumped on the bang wagon and spent spent spent and not thought about tommorow. When money goes out off the door love goes out of the window
albion, west riding says...
9:17pm Thu 22 May 08
chris wrote:Very profound.
People in Bradford jumped on the bang wagon and spent spent spent and not thought about tommorow. When money goes out off the door love goes out of the window
albion, west riding says...
9:17pm Thu 22 May 08
chris wrote:Very profound.
People in Bradford jumped on the bang wagon and spent spent spent and not thought about tommorow. When money goes out off the door love goes out of the window
mrs walker, round here says...
12:24am Sat 24 May 08
Just because someone's loaded doesn't make them attractive, and similarly someone can be short of money but be a beautiful human being. Nothing is less attractive than conspicuous and ostentatious wad-flashing, and nothing is more attractive than a kind, confident human being enjoying their life.
If you love someone you give yourself to them for free. When money goes out of the door you both tighten your belts and cuddle up in bed early to save on the heating bills :-)
mrs walker, round here says...
12:24am Sat 24 May 08
Just because someone's loaded doesn't make them attractive, and similarly someone can be short of money but be a beautiful human being. Nothing is less attractive than conspicuous and ostentatious wad-flashing, and nothing is more attractive than a kind, confident human being enjoying their life.
If you love someone you give yourself to them for free. When money goes out of the door you both tighten your belts and cuddle up in bed early to save on the heating bills :-)
mrs walker, round here says...
12:24am Sat 24 May 08
Just because someone's loaded doesn't make them attractive, and similarly someone can be short of money but be a beautiful human being. Nothing is less attractive than conspicuous and ostentatious wad-flashing, and nothing is more attractive than a kind, confident human being enjoying their life.
If you love someone you give yourself to them for free. When money goes out of the door you both tighten your belts and cuddle up in bed early to save on the heating bills :-)
Mark, Haworth says...
9:25am Sat 24 May 08
The difference that they forget is that Joe Public cannot fall back on savings, shares, or selling the second home.
When will some people realise that those households earning less than £40k are facing potential disasters.
High income earners can reduce their expenditure more easily than others.
Mark, Haworth says...
9:25am Sat 24 May 08
The difference that they forget is that Joe Public cannot fall back on savings, shares, or selling the second home.
When will some people realise that those households earning less than £40k are facing potential disasters.
High income earners can reduce their expenditure more easily than others.
Mark, Haworth says...
9:25am Sat 24 May 08
The difference that they forget is that Joe Public cannot fall back on savings, shares, or selling the second home.
When will some people realise that those households earning less than £40k are facing potential disasters.
High income earners can reduce their expenditure more easily than others.
albion, west riding says...
9:50am Sat 24 May 08
mrs walker wrote:Mrs Walker, i love you! (how much did you say you had in the bank?).
Rubbish. What about those vows regarding 'for richer, for poorer.' Just because someone's loaded doesn't make them attractive, and similarly someone can be short of money but be a beautiful human being. Nothing is less attractive than conspicuous and ostentatious wad-flashing, and nothing is more attractive than a kind, confident human being enjoying their life. If you love someone you give yourself to them for free. When money goes out of the door you both tighten your belts and cuddle up in bed early to save on the heating bills :-)
albion, west riding says...
9:50am Sat 24 May 08
mrs walker wrote:Mrs Walker, i love you! (how much did you say you had in the bank?).
Rubbish. What about those vows regarding 'for richer, for poorer.' Just because someone's loaded doesn't make them attractive, and similarly someone can be short of money but be a beautiful human being. Nothing is less attractive than conspicuous and ostentatious wad-flashing, and nothing is more attractive than a kind, confident human being enjoying their life. If you love someone you give yourself to them for free. When money goes out of the door you both tighten your belts and cuddle up in bed early to save on the heating bills :-)
albion, west riding says...
9:50am Sat 24 May 08
mrs walker wrote:Mrs Walker, i love you! (how much did you say you had in the bank?).
Rubbish. What about those vows regarding 'for richer, for poorer.' Just because someone's loaded doesn't make them attractive, and similarly someone can be short of money but be a beautiful human being. Nothing is less attractive than conspicuous and ostentatious wad-flashing, and nothing is more attractive than a kind, confident human being enjoying their life. If you love someone you give yourself to them for free. When money goes out of the door you both tighten your belts and cuddle up in bed early to save on the heating bills :-)
mrs walker, round here says...
1:02pm Sun 25 May 08
(And I prefer Seabrooks anyway)
mrs walker, round here says...
1:02pm Sun 25 May 08
(And I prefer Seabrooks anyway)
mrs walker, round here says...
1:02pm Sun 25 May 08
(And I prefer Seabrooks anyway)
albion, west riding says...
2:22pm Sun 25 May 08
albion, west riding says...
2:22pm Sun 25 May 08
albion, west riding says...
2:22pm Sun 25 May 08
Key House's Sikander Hussain
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albion, west riding says...
3:41pm Thu 22 May 08