Youngsters Struggle to get Mortgages...

Yesterday a friend of mine was gutted because once again her and her fiance were refused a Mortgage

They are both hard working ppl..and all they want is to buy a place over here ..

I think it is so unfair that youngsters can not get the necessary financial support which causes them to leave their place of birth and look overseas..

My brother left the island in 2001 for the same reasons...they now have a beautiful home In New Zealand and a very good life...and would never return to the Island to live....



What are your Views on this?

once again the banks are trying to play god with peoples lives.if a couple have a good credit rating,are both working and are still young the banks should be bending over backwards to help them a damned disgrace imo.

problem is the cost of housing, youre looking at around 300k for a house.

you need a joint income of around 75k + savings, then what happens when the patter of tiny feet come along, one has to give up or you got 1k a month nursary fees on top of a huge mortgage...

part ownership seems to be the way forward.

totally agree gimp.prob is GHA seem to be building smaller places at the moment.

This is one of the reasons why I left Guernsey!!!

alpbach1 wrote:This is one of the reasons why I left Guernsey!!!

..........and that is why my daughter has moved to France !!! she or her contribution to the island wont be missed she was not in finance!

karma wrote:

alpbach1 wrote:This is one of the reasons why I left Guernsey!!!

..........and that is why my daughter has moved to France !!! she or her contribution to the island wont be missed she was not in finance!

did she move with a " tony " or " graham " karma ?

She left with a Smart Car and her partner 'graham' ......

who is tony?????

just know of 2 guys who left for france lately..

one being tony, the other being graham.

did graham and your daughter have a leaving do on lib. day ?

Yep you got the one :)

do you have an e-mail address for him please karma ?

if so could you PM please. thanks.

I'll PM you with Zara's that should do the trick :-)

Thistle wrote:once again the banks are trying to play god with peoples lives.if a couple have a good credit rating,are both working and are still young the banks should be bending over backwards to help them a damned disgrace imo.

The banks may be bending over backwards to help them, who knows. But the banks buy money and sell it on, they have to have a profit margin like any other retailer. We do not expect the corner shop to sell at a loss so people can afford to buy things.Perhaps we should take our frustration out on the likes of estate agents who look to keep prices high because it makes them more money, so every problem can not be laid at the bank's door.

I don't think the corner shop would ask (or receive) huge amounts of money to bale them out if they went belly up - but the banks did (and got)!! big difference there - they bought the economy down and should be (with our money) trying their hardest to get it back up and running - and that does not mean IMO paying out huge bonuses for failure!

How many millons are spent on the bank bildings? I guess a few more quid than the local corner shop....and the wages are a bit higher in a bank......

Karma your arguement is based on economic risk, what's the risk of losing a corner shop or a bank. Also Banks are not the only companies to receive big money payouts to keep them afloat. Corner shop won't get a payout from govt. because the economy will survive without the corner shop, (we'll just use the s/market). Whereas the acconomy will struggle if one then another bank collapses and a domino effect occurs, which will bring down the economy. Bailing out Banks is risk management, balance good with bad. As for payouts for failure, is it better to keep a failure in position or to give a payout to buy his/her contract and get rid of them. That way you do not have employees on extended leave at full pay as per their contract. It is a business decision and not only used by banks but all big businesses.
Alpach many many millions are spent on property in prime locations, that again is a business decision. You buy the best house that you can afford as a home and an investment so why should a multinational corporation that relies on first impressions do differently, would you put your money in an establishment that is run out of a tin shed in a back alley?

Actually Plimmerton you make me weep 'hot tears' - my 'argument' is based on the amount I have personally lost from my savings carefully put aside so as not to be a drain on society.....(which should have kept me in relative comfort in my old age but are now failing pitifully)....I hope you are young enough to recoup - unfortunatally I am not.....c'est la vie as the saying goes.......

A bank is just a business... people will always loan or borrow when the rates are ok regardless of the property or location.....look around you Guernsey is not the ideal location for so many multinational corporations it is just a tax haven no more and no less....I think the banks should have to sell a lot of property before they get a handout...

me too karma.my interest used to pay my yearly electricity bill but no longer.this is now being taken from my little bit of capital which is slowly being eaten up.

karma wrote:Actually Plimmerton you make me weep 'hot tears' - my 'argument' is based on the amount I have personally lost from my savings carefully put aside so as not to be a drain on society.....(which should have kept me in relative comfort in my old age but are now failing pitifully)....I hope you are young enough to recoup - unfortunatally I am not.....c'est la vie as the saying goes.......

I am no different to you, perhaps a little younger but not much. Can we lay the blame on lost savings at the banks door or is it the investment advisers and the world economy that is too blame. I have dealt with some mega investors that have lost phenominal amounts but if you are investing you take the rough with the smooth and providing you have not been sold an investment incorrectly there is not alot you can do. We invest money with a certain amount of risk, the more the return on our investment then the more the risk we are exposed to.
Alpach what you say about Gsy not being an ideal location is a bit of a contradiction because if it was not ideal then they would not be here. The non high street corporations are dealing with high net worth clients for whom a million US is dust in their pockets and they want to be assured that their funds are safe so when they walk into the foyer of Credit Suisse which oozes affluence they are impressed would they be so impressed if they walked into the old insurance place in the Bouet, I think not.

''Alpach what you say about Gsy not being an ideal location is a bit of a
contradiction because if it was not ideal then they would not be here''.


TAX HAVEN...mafia money...drug money...blood money....TAX HAVEN....should I continue?

Ah. Austria is even more secret. They were in the OECD shady list for non-cooperation until a recent change. Can't remember the details. In the last few months.

.....sorry

alpbach1 wrote:''Alpach what you say about Gsy not being an ideal location is a bit of a
contradiction because if it was not ideal then they would not be here''.


TAX HAVEN...mafia money...drug money...blood money....TAX HAVEN....should I continue?

And how does that support the arguement that they should be more free with money to young home owners.

Or the arguement that thye should not have plush premises. There will always be iffy money in any jurisdiction, but it is the amount and the efforts to keep it out that counts, but tyhat is another discussion.

When the big banks leave Guernsey(not if but when) the locals will be able to afford hauses at realistic prices!!!!!!!!!!

http://www.thisisguernsey.com/2009/01/13/house-price-average-tops-400k/

PARIS—Austria has been promoted
to the "white list" of countries that comply with international tax
standards, according to the latest progress report by the body leading
a global fight against tax havens.

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Austria had been among several states resisting the adoption of rules on forwarding account details to other tax authorities.
The
change had been expected because Austrian lawmakers voted earlier this
month to relax the country's banking secrecy regulations. The change
paved the pay for the country to be removed from the Paris-based
Organization for Economic Cooperation and Development's "gray list" of
countries not complying with international reporting norms.
The
Austrian Finance Ministry says the country has signed 15 agreements on
double taxation or exchange of information with other countries, a
prerequisite for getting off the gray list. Many more agreements are
being negotiated, ministry spokesman Harald Waiglein said in Vienna.
The gray list still includes nations such as Andorra, Monaco, San Marino, and the British territory of Gibraltar.

fast robert... Austria has been promoted
to the "white list" of countries that comply with international tax
standards....can Guernsey say the same?????????????????????